Barbara Flood (sp???). She used to be a model and has lost it all.

Do you mean 'Total losses are estimated to be about $50 BILLION'?

That is what they have to mean! Thanks for posting the correction.

Pioneer lost a further c$500m in Primeo Select Fund, so their total loss is around the $750m mark. Some of the losses above are double counting, as end investors had invested in Madoff via Fairield, Kingate, etc. Therefore the figures that these companies are quoting is actually the exposure through their vehicle, but a vast chunk of the money is client assets, not proprietary capital. A lot of banks have not owned up on their losses yet...

Daily News publisher Mort Zuckerman is the latest billionaire revealed to have fallen prey to ponzi schemer Bernie Madoff. -- WSJ

- Steven Spielberg's charity, the Wunderkinder Foundation, derived "roughly 70 percent of [its] interest and dividend income" from Madoff as of 2006 and has confirmed it suffered losses on its Madoff investments.

- Holocaust survivor Elie Wiesel's Foundation for Humanity lost money.

(JTA) The Technion-Israel Institute of Technology was among Madoff's clients and was affected, but the university is not yet sure how deeply it was cut.

"Our accountant is trying to figure out all of the facts. Technion definitely was a client of Bernard Madoff," a spokesman for the Technion told JTA.
"At this point, we just don’t really have all the details."

You really should be checking on individual friends of Madoff and his children to see if they got their money back while no one was looking.

Nordea - Bank - €48m
http://www.reuters.com/article/marketsNews/idUSSAT00594020081215

The Nordic region's biggest bank, Nordea (NDA.ST: Quote, Profile, Research, Stock Buzz), said on Monday it had an indirect exposure of 48 million euros ($65 million) to the alleged $50 billion fraud by Wall Street trader Bernard Madoff.

"It is not (an exposure) directly to him, but through a fund called Fairfield Sentry," Nordea spokeswoman Helena Ostman said.

"We have the following exposure, for the group, of 48 million euros, which we want to stress is an extremely marginal exposure."

It was not yet clear if entire amount might be lost, she added.

Swedish rival SEB (SEBa.ST: Quote, Profile, Research, Stock Buzz) said separately that it had no exposure to Madoff.

was there a mr menkin on the list

I think you mean J. Ezra Merkin, the chairman of GMAC Financial Services. His investment firm is Ascot Partners, which we list above.

Fortis Bank Netherlands 850mm - 1bn Euros ($1.2bn - $1.4bn).

Nomura = $306 mn

HSBC has emerged as one the largest victims of Bernard Madoff’s alleged fraud with potential exposure of about $1bn to the investment manager’s collapsed venture.Sourse FT.com

@10:01

My understanding is that a significant number of the funds investors were "close friends" of Madoff, so it seems unlikley.

Even if they did get the money back...they are going to have to surrender the profits back into the pot eventually anyway.

Oak Ridge Country Club (Hopkins, MN) and Hillcrest Country Club (St. Paul, MN).

is Michael Roth the CEO of IPG?

Tremont Group Holdings had $3.3 Billion invested w/ Madoff....Tremont's Rye Investment Management unit had $3.1 Billion or virtually all its assets. Tremont had another $200 million invested through its fund of funds group.
-Bloomberg

Silly me, I thought Ira Roth was a retirement account!

Amazing that Tremont just wrote to investors in mid November asking them to commit more capital to the strategy!

$1.2MM Robert Chew

$30MM His extended family

http://www.time.com/time/business/article/0,8599,1866398,00.html?xid=rss-business

Is that Richard Roth of Ivy-Hill Media Corp.?

Remember this was a Ponzi scheme. Those who got in early, probably got their investment capital back and then some, so some of those names on the list, probably didn't lose too much, when you add in all their income distributions over the years. In fact, if Bernie falsified their returns showing steady ROE even in down years, they may have come out better than they deserved, at the expense of the latecomers.

It's those who got in late that were truly hosed. I'm guessing the faceless fund of fund types with their billions were the ones truly screwed, the names at the top of this list.

I REALLY HOPE THEY FIND OUT THE LOSS WAS A HOAX. AT 70 I THINK HE JUST MAY HAVE WANTED TO SHOW EVERYONE HOW UN-REGULATED HEDGE FUNDS ARE AND WHAT THEY NEED.

Anonymous at 6.09a.m, 15th December - I know that's you Barker

Is Legg Mason on the list?

No, but I also heard they were hit for a good few millions.

Anonymous - at 06:20 16 December - Knotty actually

Wow, what a list! How could he have said there were only 24 investors in the fund? How could the SEC actually buy that line?

Looking at the Rye (Tremont) paperwork it looks like they basically just borrowed money and invested in Bernie. Which raises two questions: 1. Since when is borrowing money considered "skill" on which it is legitimate to charge a management fee? 2. Who lent them the money? (Which bank is on the hook for two thirds of the loss.)

@8:52 -- good point.Wasn't Tremont supposed to be one of the best funds of funds out there? They were basically having someone else manage the money and they were taking fees from their investors.

Also, is it true that Madoff didn't charge a management fee? Is that why these funds invested with him?

People who got in early may have done very well but they thought they were receiving an allowance, not their capital. Likely they spent it, or reinvested it with him.

Yeshiva University is reporting $140 MM exposure

Thanks! We've got a few more names and will be updating the list soon.

~ Deirdre

I believe Austin Capital's exposure to be ~7% of firm assets.

I just sent out an email to 20,000 FINalternatives readers asking if they know of any more victims, and I have already gotten at least 20 emails.

Please bear with us while we sort through those and other sources. An updated list will be appearing late this afternoon, so check back then.

And keep the tips coming!

Thx,
Deirdre
Publisher, FINalternatives

Believe Bernie was also a member of Old Oaks in Westchester and Glenn Oaks in Long Island. Both high end country club communities involved with substantial charitable giving and whose members probably had close ties with him.

Guys, you all have to remember that many of these investors were invested via the ''Feeder Funds'' (ie. Ezra Merkin --Ascot Fund, etc.) As such, it's virtually impossible to confirm these figures accurately at this point....

@ 11:55 -- This is true. There is no doubt a lot of double counting, and it is impossible to know the true figures at this point. We have decided to list anyone we find that has been affected. In two weeks we can look back and hopefully make some sense out of the direct investors and the sub-investors.

~Deirdre

Ed "Blumenthal" Real Estate Developer is Ed BlumenFELD-- not "thal"

the reichmuth number is a lot higher than that. $330m. think you're missing a 0

Won't the people who got in early (i.e. Carl Shapiro) have to give back $$millions of "ill-gotten gains" that they have already spent since it was really other people's money?

Many of these "losses" are based on what people thought they had earned, not the money they actually put in

There may well have been only 24 investors in the fund. What he probably means (if he is to be believed) is that there were 24 feeder vehicles into Madoff's trading strategy (scam). These feeders will have had hundreds, if not thousands of investors. What the SEC need to get a grip on is who had the feeder funds, how much were in those, and who the investors were into the feeders. Does anyone know anything about a fund called theta that was also a feeder into madoff??? Who ran this fund?

According to the Syracuse, NY Post-Standard:

http://www.syracuse.com/poststandard/stories/index.ssf?/base/business-14/1229162375125670.xml&coll=1

a Syracuse-based investment advisor with $946 million under management (largely union pension plans) lost an unquantified amount with Madoff.

http://www.jpjassoc.com/

Anonymous - at 12:41 16 December, 2008
The losses may be based on what they thought the latest value was, not how much they invested, but this is how much the clients thought they had, and this is what the fees were charged on. What is going to happen to the millions in fees that have been collected over the years by the feeder vehicles?? Are these going to have to be repaid to clients as the feeders should have done their due diligence.

There was truly smoke here...I heard from a managing partner of a FOF that concluded 5 years ago that BM was a fraud, and that the FOF had notes of that due dilligence. Since that conclusion was plausible at that time, any exposure of $$$ is a testament of lack of due dilligence as well.

http://www.thejewishweek.com/viewArticle/c37_a14264/News/National.html

www.nantucketindependent.com/news/2008/0618/Property_Transfers/

June 9 -, 2008 ~ June 13, 2008
1.A house on 3.3 acres at 51 Wanoma Way sold to Mark Madoff and Stephanie Madoff of New York City, N.Y. from Frank L. Katz and Elise R. Katz of Boston, Mass. for $6,500,000. The property is assessed at $6,708,200.