Madoff’s Investor List
The Wall Street Journal has compiled a comprehensive list of investors that plowed money into Bernard Madoff’s $50 billion alleged fraud scheme.
Over 100 investment companies, hedge funds, banks, charities and individuals are identified as well as the exposure each investor is facing. Some of the companies that invested their clients’ money with Madoff now stand to lose a great deal.
More than half of Fairfield Greenwich Advisors $14.1 billion in assets was connected to Madoff. That means it could face a loss of $7.5 billion.Tremont Group Holdings, an investment firm owned by OppenheimerFunds and Massachusetts Mutual Life Insurance Co. could face a loss of$3.3 billion.
The hedge fund Ascot Partners invested substantially all of its assets with Madoff and could lose $1.8 billion.
Asset manager Bramdean Alternatives faces $31.2 million in loss exposure.
The pain isn’t just contained to the United States. The global list includes Swiss, French, Japanese, Dutch, Italian, Israeli, Belgian, Portugese, and Singapore-based companies.
Brokers and hedge funds must conduct a due diligence investigation before turning a client’s money over to another investment firm. In the Madoff debacle, middlemen that acted as a go-between are now facing lawsuits from angry investors claiming a lack of due diligence.
Carey & Danis pursues numerous securities fraud cases on behalf of defrauded individual and institutional investors. Investors who wish to discuss their rights against Madoff Investment Securities or against companies that invested money with Madoff may contact Carey & Danis toll-free at 800-721-2519 or fill out our online contact form.
