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SEC Spent $53,000 After Gary Gensler’s Texts Vanished: Report
SEC Spent $53,000 After Gary Gensler’s Texts Vanished: Report
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BTCCSquare news:
The SEC's Office of Inspector General revealed a series of institutional failures leading to the permanent deletion of nearly a year's worth of text messages from former Chair Gary Gensler. A misclassified government-issued phone triggered an automatic wipe, compounded by a factory reset that erased all data—deemed "avoidable" by investigators.
These lost records, potentially containing federal communications subject to FOIA requests, represent a significant transparency breach. The agency incurred $53,000 in contractor costs for a flawed after-action review, highlighting systemic preservation failures at the regulatory body.
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