one hell of a thief , only thing worse is stealing from widows ands and orphans

February 27, 2006 - March 3, 2006
A house on .12 of an acre at 20 New Lane sold to Mark D. Madoff and Stephanie Madoff of New York City, N.Y. from Malcom MacColl and Dorothy M. Madoff of Needham, Mass. for $2,287,500. The property is assessed at $1,907,800.

Want to go another level or two deeper?

* Map (rather than just list) exposure through feeder funds and funds of funds such as UBM SelectInvest, which apparently was exposed through allocation to Ascot

* Include exposure on private-bank platforms. For instance, Morgan Stanley's Private Wealth Management group owns a hedge-fund screening firm called Greystone that OK'd funds of funds with exposure to Madoff. So Morgan Stanley clients were, in effect, exposed to Madoff contagion. Effect of multiple screens was actually to let in contagion rather than to screen out.

Sandra Manzke was so concerned about hedge fund fees that she didnt notice her own website talking about manager diversity
"One of the universally accepted principles of successful investing holds that diversification among portfolio holdings is the optimal practice to mitigate risk. Based on our long experience in this area, we believe there is a parallel path in choosing managers, which can accomplish similarly successful outcomes."

She should be made personally responsible for the assets she lost for her clients by placing all here money with one manager!

Madoff Article from Standard 

He kept around £80 million in cash in the London firm and used it to fund deals to benefit himself, his wife Ruth and sons Mark and Andrew.

So where did the 50 billion go? Bernie could not have spent it all!! Cyber market space?

Harold Strauss $20,000,000
Peter Madoff (Bernie's brother) claims $100,000,000
Sol Young - totally wiped out

members of old oaks country club - purchase, ny. 30-40 families.

I am sure most will agree that we would like to see a separate list of the Fund of Fund Entities vs the names of the Hedge Funds and family offices - and named managers and the names of their various FOF Funds.
As you know, some FOF managrs have a number of FOFs so it is important to ID the names of the specific FOFs - not just the name of the entity - For ex - Tremont has many entities - maybe only a few of their FOfs were actually invested in Madoff.

Reliance asset management has over 1 billion invested with Madoff. Depot banks of their funds are UBS and Fortis Ireland.

The thema fund that is noted on the Irish Stock Exchange is one of the biggest Madoff funds...

Clusterstock/AlleyInsider is also reporting that Eliot Spitzer Lost Money With Madoff

Bernie made a lot of people a LOT of money. especially those that had their not so hard earned bags of stash with one of his schemes for over 10 years will have made more than they had put in as Bernie-s fantasy returns paid them as much as 16% p.a. so do the math the suckers were institutions and butt head banks like HSBC who figured, why work when you can invest with a scammer, so why worry, they are all bailed out the losers are foundations and charities, who will have to drive Hondas to their Park Avenue offices from now on, since the Mercedes money went to money heaven.

YU lost $110M not $140M and it was thru Ascot Fund not Madoff directly, so there may be double counting

If anyone knows of other pension fund investors (in the US or abroad), please let me know so I can add to our blog, www.pensionriskmatters.com. I am particularly interested to know if any of the pension funds were "invested" through a third party (such as a consulting firm). I don't need the name of the third party, just that one was involved. You can send to PG-Info@pensiongovernance.com. Thanks.

This is really widespread - Is Permal Investments affected?

Investor: UBI Banca - bank
Potential Exposure: EUR 60.5 million
Source: Il Sole 24Ore - 12/17-2008

Banco Polare - bank
EUR 8 million
Source: Il Sole24Ore - 12/17-2008

Banca Aletti (Gruppo Banco Popolare) - bank
EUR 60 million
Source: Il Sole24Ore - 12/17-2008

Duemme Sgr (Banca Esperia) - investment firm
n/a
Source: Il Sole24Ore - 12/17-2008

Banco Popolare - bank
EUR 8 million
Source: Il Sole24Ore - 12/17-2008

madoff was meeting with various investors, including tremont and fairfield and optimal on/around thanksgiving regarding a new strategy and asking them for $$ quickly.

I think the more relevant list would be those of the people who redeemed out and whether or not they redeemed out everything and why (and when).

SAR academy is actually $1.3 million, not $3.7. (see jewish week article posted earlier for confirmation.

I would be curious to know individual investors more than funds.

His brother belonged to Glen Oaks in LI and I hear he did everyone a favor and got them in!

NEW ADDITION:

AMERICAN FRIENDS OF THE ISRAEL PHILHARMONIC ORCHESTRA (AFIPO)
3.5 MILLION

Does anyone know how far back the receiver can go to collect money from the investores. i heard that under bancruptcy it is one year but in the Bayou Group ponzi scheme they went back 2 years.

UPDATE:

IRA RENNERT FIGURE SHOULD ACTUALLY BE $300 MILLION (NOT 200M)

60% OF "GLEN OAKS COUNTRY CLUB" MEMBERS OVER THE PAST 10 YEARS SHOULD BE LISTED

you could show an estimated figure... jus to know when we'll hit the 50 bln mark...

Edward Calesa, Aspen reident...$8.5mm

Family Management Group AG - Directors Fund SPC Ltd. and The Riverside Conservative Fund -$430M – Source: Fund Docs

Gérifonds SA (Fund of Funds)- AMC Alternative Fund and the Heritage Alternative Fund (Through Fairfield Sentry)$16.8M – Source: Fund Docs

Bramdean Asset Management LLP – Relative Value Fund – $8M – Source: Fund Docs

Aquila Capital (Fund of Funds)– 1.5% - $2M – Source: Fund Docs

MVP Asset Management (Fund of Funds)– MVP Fund of Funds – 1.7% - $1M – Source: Fund Docs

INTAC Global Investment – (Fund of Funds)- INTAC Global Capital Preservation Hedge Portfolio – NA – Source: Fund Docs

Symphony (Fund of Funds) – Global Alternative Strategies Fund (Through Pioneer Alternative Investments)- NA – Source: Fund Docs

Lupus Alpha (Fund of Funds) - NA – Source: Fund Docs
Platinum Partners Fund of Funds – NA

Last Atlantis Capital Management - NA

*ALERT*

A bit of math shows that Carl Shapiro, far from suffering "the largest personal loss yet in the scandal", might actually have been the single largest personal gainer from Madoff's Ponzi scheme.

Madoff has been reporting pretty consistent returns on the order of 13% a year; Shapiro sold his company in 1971. If he invested $6 million with Madoff in 1971, and it compounded at 13%, that would bring him up to $545 million today.

In the interim, Shapiro has become a major philanthropist, and has surely taken out of his Madoff account orders of magnitude more than the money he originally invested. The damage to his foundation is immense, and horrible. But there's a good chance that many of the recipients of his largesse over the past few decades have in fact been paid out with Ponzi money, and that Shapiro has managed to give away much more than if he had never been invested with Madoff at all.

@Anonymous - at 13:51 17 December, 2008
Thanks for sourcing the info!

Everyone else, if you do have the info source, especially a link, let us know...if you have info that hasn't been published, please do share it, but also, if you could send me an email or call me so I know it is a legitimate tip, that would be a great help. And don't worry, I would never use your name in print without permission. 

Thanks!

Email: dbrennan AT finalternatives DOT com

_________________
Deirdre A. Brennan
Publisher, FINalternatives
Office: +1 212.966.0047
www.finalternatives.com
 

I know someone who invested, but they have taken money out over the years, though they still had some, which is now lost. WHat happens to the money they took out? Can they keep it?

I heard Ron Wards fund of fund Merriwell had a 14% exposure to Madoff

Wolosoff Foundation: $38 million

http://www.jpost.com/servlet/Satellite?pagename=JPost/JPArticle/ShowFull&cid=1228728239808

Hadassah, the Women's Zionist Organization of America, announced Wednesday that it had invested $90 million with Bernard Madoff, who has been charged with securities fraud.

The Chais Family Foundation, which gives away about $12.5 million a year to Jewish causes, said it will close down. Its entire fund was invested with Mr. Madoff.

and they reportedly only lost $7mil ????

Pioneer are lying about their exposure. This Sep 08 factsheet says $464m. The Oct 08 one says $474m. They also had exposure in their AllWeather range of around $250-300m. I think the SEC should investigate very deeply and publish their own lists.

http://www.pioneeraltinvest.com/pdfs/factsheets/primeo_select_fund_usd.pdf

Anonymous - at 04:37 18 December, 2008

I know that's you Knotty.

You got me. Also, Unicredit own 25% of Bank Medici, which had a $2bn exposure, so that takes Unicredit's exposure to around $1.3bn. That's more than La Rocca got in last year's bonus, lol.

Individuals don't want their names out. They are afraid they are going to have to give their "spent" returns back. Their "returns" were actually other people's money. Investigators should check names of everyone who ever rode on their jet for the last 10 years. How can you let some people name buildings after themselves with money that belonged to someone who sold their house for retirement income?

Many people who have been in the "fund" the longest have taken out a lot more money than they ever put in which means they are going to have to return it. CNBC today pointed out that late investors are gong to sue early investors to get their money back.

Congregation Kol Ami in White Plains New York. See,
http://www.lohud.com/apps/pbcs.dll/section?Category=NEWS02. Would assume investment made as a result of relationship of a congregant also invested with Madoff.

Some r.e. developers in Broward County, FL were multi-million dollar investors.

Question that begs an answer,has anyone read what the promised rate of return would be if you invested with the Mad man??

With the millions the greedy rich were throwing in it had to be a ridiculously high ROR or they would have passed for something safer. Inquiring minds want to know.

So glad to have advised MFO clients to get out in 2000/2001...Not making me a very popular guy either!:(

This desision was mainly due to limited or no access for due dilligence, and no PB or Audit oversight. Also, with spreads moving from fractions to cents per share...The continued static return profile in a "conversion/reversal" option strategy made no sense?! Though frankly I never thought it was a ponzi scheme!

@ 13:05---

Returns promised were +10%-12% per annum, with never having a down month. This was marketed not as a "get rich" scheme but as a "stay-rich" scheme.

Feeder funds will have to pay back their fees as they were based on non existent gains.The investor losses based on poor due diligence is a separate issue and will be litigated for a long time. I figure on average the feeders earned 10 MM per Bill- so in the case of tremonts 3 billion $ fund they will be liable for some very very serious $$$

Futures Select Portfolio Management fof through Tremont +250MM

He has a big box of diamonds buried in the woods. Hopefully, be cuts a deal to return $49 billion.

If a person were individually invested, they would not get a compounding rate of 10-12%.. You would have to figure it out after taxes which would probably be at the highest rate. They would have to have paid taxes and have taken some out for that or from somewhere else. Likely the biggest benefactor from this scheme was the IRS... and they will have to pay it back.