http://www.planadviser.com/article.php/3384

The entire profit-sharing plan run by suburban Minneapolis drugmaker Upsher-Smith Laboratories was placed with Madoff’s firm.

A news report in the Minneapolis Star Tribune said Joel Green, general counsel and vice president of legal affairs at Upsher-Smith, declined to estimate how much money might be lost and how many past and current Upsher-Smith employees are affected.

http://www.planadviser.com/compliance/article.php/3383

A St. Louis real estate firm reports its employees are also affected by the Ponzi scheme. About 100 employees at Sterling Properties in St. Louis had the option of investing with Madoff through their 401(k) plans, and dozens did so, a company official told the St. Louis Post-Dispatch. Investing with Madoff was one of several options in Sterling Properties' 401(k) plan, and employees also had the option of investing with Madoff outside their 401(k) accounts.

According to the Post-Dispatch, t

investors are only protected to a maximum of 1 million in bank or brokerage accounts.

madoff new if he coulding make his 10% returns consistently 'EVERY YEAR' he'll lose clients so he turned to a ponzi scheme.

His 'consistency' of returns even downturns was his selling point. no hedge fund of that SIZE 50 billion can beat the marketholding positions if they have a position in the market can make 10% every year and not lose money.

his clients showed positions in stocks bonds etc but those were fake positions that didn't' exist much like that statements you get from brokers today. it's all IOU.

I think any money liquidated should go to charity foundations. it's just not moral to steal from charities.

these charities can't writeoff their losses like other funds or corporations.

NOTZ & STUCKI-GENEVA-SWITZERLAND = 830 US$

ROLEX FOUNDATION? name being circulated but not confirmed by the foundation yet?

where is the money ?

I heard that Ivy Asset Management which is owend by the Bank of New York is involved- the $ amount is unknown.

Steamfitters Local 267/other pension losses due to Madoff through J. P. Jeannerret (long article) http://www.syracuse.com/business/index.ssf?/base/business-14/122976701341340.xml&coll=1

Bail for that lying weasel should have been set at 50 billion. Then he should have been tossed into a maximum security prison until he came up with the truth about his hidden wealth.

Alexandra Penney, author of "How to Make Love to a Man" lost her entire savings and wrote about it. http://www.thedailybeast.com/blogs-and-stories/2008-12-17/the-bag-lady-papers/1

http://news.yahoo.com/s/ap/20081220/ap_on_sp_ol/oly_ioc_madoff_scandal

 IOC finance commission chairman Richard Carrion told The Associated Press the Olympic body has about $4.8 million at risk in the alleged Ponzi scheme by Bernard Madoff. "That could be the maximum loss," Carrion told The Associated Press in a telephone interview from Puerto Rico, adding that the IOC's money wasn't directly in Madoff funds. "They're in funds invested in Madoff funds."

http://news.yahoo.com/s/ap/20081220/ap_on_bi_ge/madoff_scandal_charities;_ylt=AoO2VAXOPJiiNjfl8BJH74lvzwcF

The Picower Foundation has given millions to the Massachusetts Institute of Technology, Human Rights First and the New York Public Library. It also funded diabetes research at Harvard Medical School. It is based in Palm Beach, Fla., and has offices in New York.

The foundation, whose assets were managed by Madoff, said in its 2007 tax return its investment portfolio was valued at nearly $1 billion.

The foundation is by far one of the largest national philanthropic organizations to become mired in the financial mess created by Madoff's alleged scheme.

Looks like Bernard Madoff with everyones money.

In the US,(and presumably abroad,) all those who have made profits from a fraudulent scheme must pay back their gains to the receiver seeking to compensate the victims who have lost money.

All the folks who had feeder funds and made profits,management fee, carried interest including all fofs that made profits allocable to their investment in madoff will be responsible for giving the $$$ back. I guestimate this equals about 20 million per billion that made its way to him . Therefore assuming intermeadiary funds brought in 15 Billion they collectively earned and will have to repay approx 300,000,000 per yr of dealing with him. if the average life is 5 yrs there is $1,500,000,000 that should be recaptured for investors.Little solice but a harsh lesson to those who were his pied pipers

The charitable foundations on the list were like endorsements of his ponzi scheme and it is reported his own family members had investments in the hedge fund.

The head was the former chairman of the Nasdaq and market insider too with over 30 years in the industry.

It was perfect scam.

Even steven speilberg charitable foundation got taken.

Even robbed other hedge funds and brokers and other professionals.

This scam is too crazy to be real. It's like the worst nightmare come true. The scam is to unbelievable to be true

Some members of Woodfield Country Club, Boca Point, St Andrews Country Club of Boca ARaton

Why aren't IRA's with Maedof listed?

I am sure that there are many more Bernie madoff in the pipe line, be very careful investors.

I'm sure Hollywood is already scanning screenplays for the movie.

> I am sure that there are many more Bernie madoff in the pipe line, be
> very careful investors.

That was one of the points raised in an NPR (I think) story a few days ago. When everything is coming up roses people let their money ride, so schemes like this stay "solvent", or at least aren't exposed. When things head south people want their money. That's when Ponzi schemes and other frauds tend to unravel. The expert they were interviewing said in his opinion the Madoff scam was not going to be the last.

Maybe Speilberg should be given exclusive rights for the film about Madoff. Any profits should be divided amongst all the victims. I think someone should ask Mr Speilberg if he likes the idea...

morton certilman?

add tufts to list... 20 million

Schlimiel (early Madoff investor)
Schlimazel (new Madoff investor)

I'm very impressed by you all. Frank Lautenberg should not be sitting in the United States Senate.

is it possible that charitable organizations will get their money back?

should individuals think about donating small amounts to help these charities keep going?

New York Times 12-24
Union Bancaire Privee, a private Swiss Bank founded in 1969 by Edgar de Picciotto: $700 million of its clients' money invested with Madoff.

Sincere condolences to the family of R. Thierry Magon de la Villehuchet, founder of Access International whose Luxalpha American Selection Fund placed a reported $1.4 billion of clients' investments with Madoff. This is a sad day and one that should not be.

The first investors were probably relatives and close friends and I'll bet they all made lots of money. This is the most beautiful money making scheme to come about in my lifetime. After all, isn't the entire financial world a world of greed, lies and deceipt? I only regret that I wasn't invited to the party.

In response to the "Anonymous - at 22:36 23 December, 2008"

Quality is not Quantity!

After seeing the not-for-profit fallout of the Madoff scandal, why throw any amount of good money after bad! Why think that small amounts of money would do better than large amounts when the sense of judgment to use any money is askew.

These Madoff not-for-profits received money and invested it with a scammer! Where's the execution sense in that? Where's the benefit to the cause they were supporting? Where are all those hungry children now?

All the guilt shovelled in their advertising campaigns to wiggle the money-I-earned-with-my-two-hands out of my pocket to "support a cause" and now it becomes clear that they just redistributed my money into an account for an unbelievable return that has now become no return.

Thanks, but no thanks! I say (a) stop giving money (b) delegating judgment (c) start supporting causes the old fashioned way with your hands and your feet. Giving money to others has substituted direct involvement for too long and dimenished the real number of available jobs.

While I feel bad for the charities, where were all these Jews when the lands, wealth and lives of the Palestinian people were being taken from them (including my family)as far back as the 40's until now. Hail Madoff!! Took out his own people. Payback comes in strange ways.....no?

Can someone please tell me where Madoff got the CUSIP numbers from?

Bernie Madoff’s Victims (So Far)
HSBC “has emerged as one the largest victims of Bernard Madoff’s alleged fraud with potential exposure of about $1bn…HSBC’s exposure stemmed from loans it provided to institutional clients, mainly hedge funds of funds, that wanted to invest with Mr Madoff. HSBC’s direct exposure is believed to be about $1bn in loans provided to clients who invested some $500m of their own funds in Mr Madoff’s venture. Under the typical terms of these deals, if the US authorities recover any funds from Mr Madoff, HSBC will be paid first, with its clients suffering the first tranche of losses.” (FT:)
Access International. $1.4 billion
Fortis Bank. $1.4 billion
Man Group’s RMF division has about $350m invested in funds which outsourced their management to Madoff securities, although this is a tiny fraction of the division’s $25bn of assets. (FT)
Tremont Capital. Fund of funds. $3.3 billion invested. (FT)
Pioneer Investments, an arm of Italy’s UniCredit, had “substantially all” of $835m invested with Madoff. (FT)
Union Bancaire Privet: $1.1 billion
Benbasset & Cie: $935 million
BBVA: $404 million
Maxam Capital Management LLC. Combined loss of $280 million. “I’m wiped out,” said Sandra Manzke, Maxam’s founder and chairman. The Darien, Conn., fund of hedge funds will have to close as a result of the losses, she said. (WSJ)
Fairfield Greenwich Group. Bloomberg: The biggest loser may be Walter Noel’s Fairfield Greenwich Group, whose $7.3 billion Fairfield Sentry Ltd. invested with Madoff’s eponymous firm, three people familiar with the matter said… Fairfield Sentry has a record of more than 15 years with an annual return of 4 to 6 percentage points above benchmark interest rates, according to a marketing document dated this month that was prepared by Zurich-based NPB New Private Bank Ltd. On an absolute basis, returns exceeded 10 percent every year from 1991 through 2000. Since then, they ranged from 6.4 percent to 9.8 percent…The strategy is a “split-strike conversion,” where the investment manager buys shares of large U.S. companies and enters into options contracts to limit the risk, the document says.
Fix Asset Management. Bloomberg: Fix Asset Management, which had an account worth at least $400 million with Madoff Investments. The firm said it’s checking with lawyers about the holdings. “We are very shocked,” John Fix, the son of founder Charles Fix, said by phone from Greece. “We put in redemptions in the past few months and got our money back no problem. We are just so surprised about all this.”
Kingate Management Ltd. Bloomberg says $2.8 billion Kingate Global Fund Ltd. invested with Madoff.
Santander. WSJ: The eurozone’s largest bank by market value, said its clients had an exposure of €2.33 billion ($3.1 billion) to Madoff’s investment funds, mainly through its Optimal Strategic US Equity fund. More than €2 billion belongs to institutional investors and international clients of its private-banking business, which provides services to wealthy individuals, it said. The remaining €320 million belongs to private-banking customers in Spain, where Santander is based.
Thyssen Family. Source sends the following: Thybo Investments grew out of a family office for Thyssen. They have been in fund of funds it seems since 1989. Thybo International is a “proper” fund of fund but it’s newer share class G invests only in one manager - and i’m 99% sure it’s Madoff as the returns are almost the same. Some more info. The fund started in Jan 2007. Ernst & Young. Luxembourg are the auditors. UBS Luxembourg is the administrator. Thybo states on their webpage: “Our track record incorporates audited financial statements at both a composite firm-wide and individual portfolios level.”
Ira Roth’s family. WSJ: Ira Roth, a New Jersey resident, who says his family has about $1 million invested through Mr. Madoff’s firm, is “in a state of panic.” He said his 86-year-old mother-in-law has been living on the investments’ returns, and he has been using the funds to pay college tuition.
Sterling Equities. Fund controlled by Fred Wilpon, co-owner of the NY Mets, confirms it had money with Madoff.
Stephen Abbott, a San Francisco lawyer. WSJ: [Abbott] and two siblings had several hundred thousand dollars invested with Mr. Madoff. They inherited the trust from their father, who had befriended Mr. Madoff years ago. Performance remained steady through the current bear market, he said. “People were floored,” he says. “We were making money in this lousy market.” He says he is concerned about recovering the money but “you have to get philosophical about this stuff. It could be worse; we still have our health.”
Palm Beach Country Club. Source: CNBC’s David Faber
Lawrence Velvel, “69, dean of the Massachusetts School of Law, said he and a friend may have lost millions of dollars between them (AP). “This is a major disaster for a lot of people,” Velvel said in a telephone interview from his Andover, Mass., office. “You work all your life, you finally manage to save up something, and somebody who’s entrusted with it, it turns out suddenly he’s a crook. Lots of people are getting fully or partially wiped out.” Velvel said he wants to know where government regulators, as well as accountants and others at Madoff’s company, were when the money was being lost.” (AP)
Loeb Family. Source: CNBC’s David Faber
J. Ezra Merkin. GMAC LLC Chairman. WSJ: Mr. Merkin, the chairman of former General Motors Corp. financing arm GMAC, is also a money manager at Ascot Partners LLC in New York. Ascot, which had $1.8 billion under management as of Sept. 30, had substantially all of its assets invested with Mr. Madoff, according to a letter to Mr. Merkin sent to clients Thursday night. Mr. Merkin said as one of the largest investors in Ascot, he believed he had personally “suffered major losses from this catastrophe.”
Norman Braman. Former Philadelphia Eagles owner
Leonard Feinstein, co-founder of retailer Bed Bath & Beyond. (WSJ)
Mort Zuckerman. Mr. Zuckerman, the chairman of real-estate firm Boston Properties and owner of the New York Daily News and U.S. News & World Report, had significant exposure through a fund that invested substantially all of its assets with Mr. Madoff (WSJ)
Richard Spring. WSJ: A Boca Raton resident and former securities analyst, says he had about $11 million — or 95% of his net worth — invested with Mr. Madoff. “That’s how much I believed in him,” Mr. Spring said.
Elie Wiesel’s Foundation For Humanity. Lost $37 million.
Members of half-a-dozen country clubs: WSJ: “Mr. Madoff tapped social networks in Dallas, Chicago, Boston and Minneapolis. In Minnesota, he attracted investors from Hillcrest Golf Club of St. Paul and Oak Ridge Country Club in Hopkins, investors say. One of them estimated that investors from the two clubs may have invested more than $100 million combined. One of the largest clusters of Madoff investors was in Florida, where losses could be substantial. Mr. Madoff relied on a network of friends, family and business colleagues to attract investors. According to investors and agents, some of these agents were paid commissions for harvesting investors. Others had separate, lucrative business relationships with Mr. Madoff. “If you were eating lunch at the club or golfing, everyone was always talking about how Madoff was making them all this money,” one investor says. “Everyone wanted to sign up.” Jeff Fischer, a top divorce attorney in Palm Beach, says many of his clients were also Mr. Madoff’s clients. “Every big divorce that came through my office had portfolio positions with Madoff,” he says. Two of his investors said that among his clients, Mr. Madoff was considered a money-management legend; they would joke that if Mr. Madoff was a fraud, he’d take down half the world with him.”
Bramdean Alternatives in the U.K. 9% of portfolio.
Banque Benedict Hentsch, Geneva-based private bank, $47.5 million.
Nomura and Neue Privat Bank. “Marketed access to Fairfield Sentry Ltd., a fund overseen by Mr. Madoff and sold through Fairfield Greenwich. The shares offered by Neue Privat and Nomura were leveraged three times — meaning $3 of borrowed money was added to every $1 of capital invested in order to magnify returns, greatly increasing the potential losses for those investors.” (WSJ)
Unicredit. The Italian firm had unspecified amount with Madoff via its Dublin-based Pioneer alt-asset group. (MarketWatch)
Sen. Frank Lautenberg. Unspecified (Newsday).
Robert Lappin Foundation in Massachusetts closed its doors today and is citing relationship to Maddoff fund. $8MM foundation plus personal holdings. Foundation supported Jewish organizations throughout North Shore of Massachusetts. (source: Jewish Journal)
Wunderkinder Foundation, a Steven Spielberg charity. In the past the foundation “appears to have invested a significant portion of its assets with Mr. Madoff, based on regulatory filings. In 2006, the Madoff firm accounted for roughly 70% of the foundation’s interest and dividend income, according to regulatory filings. A representative of Mr. Spielberg confirmed that the foundation has suffered losses on its investments with the Madoff firm. He said he didn’t know the size of the losses and couldn’t comment further, including on whether Mr. Spielberg had any of his own money invested with the Madoff firm.” WSJ
BNP Paribas. “BNP Paribas’s exposure, the extent of which is not clear, may stem from BNP’s lending relationship with a fund of funds that was a big Madoff client, said people familiar with the matter. A BNP spokeswoman declined to comment.” WSJ: BNP, France’s largest bank by market value, said it could lose as much as 350 million euros as a result of the alleged fraud. The bank said it has no investment of its own in the hedge funds managed by Bernard Madoff Investment Services. BNP Paribas, however, said it is exposed to these funds through its trading business and lending to hedge funds that had invested in Madoff’s funds.
Ira Rennert. Vicky Ward of Vanity Fair, said on CNBC.”Heavily, heavily invested.”
Englebardt family of Los Angeles. (Reader)
Swiss private bank Reichmuth & Co. “said its clients had an exposure of some 385 million Swiss francs to Madoff funds. The bank said Reichmuth Matterhorn, a fund that invests in other hedge funds, faced a potential loss of about 8.6% on its exposure to Madoff. That amount represented about 3.5% of the 11 billion Swiss Francs Reichmuth & Co. has under management, the bank said.” (WSJ)
Union Bancaire Privee. UBP spokesman said the bank’s clients have “limited” losses related to Madoff, but wouldn’t be more specific or comment further. (WSJ)
EIM Group, the European investment manager with about $11 billion in assets, had a number of non-U.S. investors into funds overseen by Mr. Madoff, according to people familiar with the matter. Overall, EIM assets at risk are less than 2% of what it manages, which means losses could top $200 million. (WSJ).
UBS: “”Very limited” direct exposure to the Madoff funds…But the Zurich-based bank’s wealth-management arm helped clients in Europe and possibly elsewhere invest with Mr. Madoff, according to investment professionals in Europe who spoke with some of these clients. UBS is currently reviewing its clients’ exposure to Mr. Madoff’s funds, according to the person familiar with the matter. The person said the funds weren’t on UBS’s list of “recommended” investments for its U.S. clients, but that they may have been among the firm’s suggested investments for overseas clients.” (WSJ)
Stephen A. Fine, president of Biltrite Corp. (Reader)
Avram and Carol Goldberg, former owners of the Stop & Shop supermarket chain (Reader)
Victor Schlesinger the chairman of the real-estate trust Gulf & Northern Properties and a resident of Williamsburg in Brooklyn N.Y. had significant exposure through a fund that invested substantially all of its $61 Million in assets with Mr. Madoff (WSJ)
Helfman family of Miami. (Reader)
Saul Katz, co-owner of the New York Mets.
Irwin Kellner, of Port Washington. (Reader)
Carl and Ruth Shapiro, donors to Brandeis University, and Beth Israel Deaconess Medical Center. The Boston Globe reported on Saturday that the Shapiro family foundation lost almost half its money, or about $145 million.
Fairfield County, Connecticut. Bloomberg: First Selectman Ken Flatto and other elected officials in Fairfield, Connecticut, thought the 58,000- person town’s pension fund was holding up well amid the worst financial crisis since the Great Depression. The 18 percent decline in total assets since the end of June looked smart compared with the 31 percent plunge in the Standard & Poor’s 500 Index, and total assets of $286 million left a cushion over the $270 million of estimated liabilities. Flatto’s mood darkened yesterday when he heard Bernard Madoff, a Wall Street executive who oversaw $42 million of the assets, had been arrested and charged with fraud. “We classified this on our portfolio as one of the more conservative investments,” Flatto said in an interview. “You rely on your experts and your managers to be honest.”
Royal Bank of Scotland: $330 million
Nomura: $302 million
Aozora Bank: $137 million
Various Boston families: The Boston Globe.
Jeff Katzenberg. Dreamworks CEO has “millions” in Madoff losses. (WSJ)
Gerald Breslauer. Jeff Katzenberg and Steven Spielberg’s financial advisor. WSJ: According to people familiar with the matter, Mr. Breslauer himself has likely sustained heavy losses in the Madoff affair. He customarily invests alongside his clients, say these people, and has sometimes been a larger investor than the people he represented. People familiar with the matter said Mr. Breslauer was known to be a Madoff investor.
Yeshiva University lost $100 million to $110 million. (NYT)
Jewish Federation of Greater Washington said it had $10 million invested with Mr. Madoff, about 8 percent of its endowment as of Nov. 30. The organization said it would work to recover the money. (NYT)
North Shore-Long Island Jewish Health System: $5.7 million exposure to Madoff Securities in the form of a gift from a donor who insisted that it be invested that way. “The donor who contributed the funds has graciously agreed to reimburse the health system for any financial loss,” the organization said in a statement. (NYT)
Ramaz School lost some $6 million invested with Mr. Madoff, according to a letter sent to board members and two parents whose children attend the school. (NYT)
SAR Academy, a Jewish school in the Bronx, had roughly a third of its $3.7 million in assets invested with Mr. Madoff, according to an e-mail message it sent to donors and parents. (NYT)
Chais Family Foundation in Encino, Calif., announced over the weekend that its losses had forced it to stop operating, according to the Jewish Telegraphic Agency. The foundation had $178 million in assets in May 2007, according to its tax form. (NYT)
JEHT Foundation. May have lost hundreds of millions. Will cease operations. (NYT)
Arpad Busson. Uma Thurman’s billionaire fiance runs hedge fund, EIM, which was reportedly exposed to roughly $270 million of products sold by Madoff (Mail on Sunday)
Accountants Scott Sosnik & Larry Bell. Accountants who worked for many of Madoff victims claim that they too lost money.
Swiss insurer Baloise. $13 million. (Reuters)
Swiss Re: Less than $3 million (Reuters)
Burt Ross. Former Ft. Lee, NJ mayor lost $5 million.
Maimonides School. Boston school lost $3 million. (Boston.com)
Charles & Cindi Nadler Foundation. $10 million.
Tufts University $20 million (Boston.com)
Alexandra Penney. Artist and author lost bulk of her life savings. (Daily Beast)
Robert Chew. Colorado-based investor. (TIME)
Fair Food Foundation. Detroit-based urban farming group. (NYMag)
Pasha S. Anwar and Julia Anwar. Investors first to sue Fairfield Greenwich. (DealBook)
Pedro Almodovar. Famed Spanish film director has $240,000 “at risk” (Bloomberg)
More as we get them..

Morty Certilman and family lost $20 Million+ All liquid assets wiped out including trusts for children and grandchildren.His daughter Andrea (a lawyer) faxed a note to Madoff day story broke trying to get $900,000 wired out of her account but too late. Reportedly Certilman encouraged others to invest with Madoff for years. Another macher bites the dust.

Does anyone know if Fortress (Fig) or any of its funds are exposed through Madoff?

does anyone know who in glen oaks country club fell prey to bernie.

Don't you think Madoff his wife and the rest of their families should be enjoying New Year's Eve in a prison. I know people that he "stole" money from and are going to be very sad this New Year because of hime. Dam you and your name for all ages to come Madoff

Actually it may be that wife and kids of Madoff clueless. All these other investment geniuses wordwide were fooled, so why not the family. Guy is a sociopath and family ruined, and his kids turned him in and refused to sign for Bernie's bail.Bernie may just well be a purely solo goniff plus the shmo accountants.who were the bozo accountants anyway, Manny, Moe & Shemp? Talk about 3 Stooges!

Doesn't matter to us. Why should his family enjoy the rich life. The guy was a lifeguard, where do you think his family got their millions? Like the Romans take away their fortunes and spare their miserable lives.

OK No one seems to be focused on the Consultants who reccomended the feeder funds and Madoff himself. Why don't we start naming the investment consultants? Consultnats are paid to conduct manager due diligence...consultants should have been asking themselves the questions how comfortable are we knowing that some of these Fund of Funds had excesive positions with one manager (Madoff) ie Tremont, Maxam, Ascot, Fairfield, etc. etc. Also would they not have raised a red flag or two if they did their due diligence and learned that Madoff had complete control of the assets including custody therefore no independant third party to verify assets positions etc. and how about having Mo, Larry and Curly doing the audits? (Madoff has 50bln under management and he uses a bucket shop in Long Island)... right their a consultant should have stopped and said red flags even if they didn't want to bother trying to figure out how the guy didn't loose money in certain periods when he should have regardless of his strategy they should have just stopped and said were just not reccomending. The problem is these consultants are NEVER held accountable because investment committees bare the fiduciary responsibility and usually vote to select a manager that was brought to them by the consultant. Therefore the consultants just turn around and say hey I gave you three managers to choose from and you selected Madoff or another Fund of Funds that had Madoff not my fault. These consultnats get off scott free! I know that Cambridge, EAI and Prime Bucholz had some of their clients impacted by Madoff who are the other consultants? Consultants feel they can live in a glass house becasue they are the only ones to cast stonesn and point fingers....well the world has changed these days where is the accountability?

I seem to have heard that even if you got out of this vile thing as much as 6 years ago you may still be hearing from lawyers who will try to take your money. This is unbelievable! I have completely lost faith in all things related to investments. It's too ugly out there.

Did the Madoff's firm pay taxes as it earned all those heavy "profits" year after year? Or was Al Capone the only person that was suppose to get in trouble for tax evasion?

Yeah consultants have had a hand in stearing some clients into trouble with Madoff, the feader funds and select FOF's. I believe if you look up certain FOF's in Money Market Directories you can see which institutional investors had exposure plus it will show you who their consultants are. Many consultants very respectable ones are attached to some of these institutions. I think one of the biggest cases out there is EAI who advised for the town of Fairfield who lost 42MM with Madoff. I can't imagine that they won't have some collateral damage. I agree consultants try to wash their hands when it comes to accountability it will be interesting to see if any get named in lawsuits. My opinion is that their will be a push for greater due diligence, oversight and risk management. Consultnats have a hard time providing a great deal of oversight as they only meet with managers a couple times a year at most and they have no level of transparency on a day to day basis many don't even know what is going on with long only managers until they get access to quarter end reports. In my opinion they fly blind quarter to quarter. No oversight at all!

KSM Capital Advisors, and Indianapolis
CPA firm,lost 15 million or more of client funds. They advised the clients and handled the investment through feeder funds.

Town of Fairfield was using New England Pension COnsultants (NEPC)not EAI.

Meridian Capital Partners LLC was listed in P&I as having exposure to Madoff. Edison, N.J.-based Carpenters, Regional Council was the client referenced and they were working with a consultant which was Investment Performance Services LLC, Savannah, Ga.

http://www.pionline.com/apps/pbcs.dll/article?AID=/20081222/PRINTSUB/312229962/1039/People01

Any word on losses by 13 partners or J. ira harris?

It is too sick to comment on, what can anybody say?

boca raton, old oaks, anyplace where he played?

many people in my area lost alot from him to(five towns) guys a jerk and deserves to be put in jail "behind bars" for a very long time.

Bernie should spend the rest of his miserable life in prison.

And to those who knew there was something strange going on but gladly accepted the returns ... hope you've lost it all suckers.

It looks like the tribe has been bitten by one of their own.

Justice