List of investors in Bernard L. Madoff Investment Securities
Investors in Bernard L. Madoff Investment Securities LLC lost billions of dollars in the Madoff investment scandal, a Ponzi scheme fraud conducted by Bernard Madoff. The amount missing from client accounts, over two thirds of which were fabricated gains, was almost $65 billion.[1] The court-appointed trustee Irving Picard estimated actual losses to investors at $18 billion, and much of that money has been returned.[2]
The 162-page list of clients (without investment amount), filed in United States bankruptcy court in Manhattan, was made public on February 4, 2009.[3][4][5] Some of the clients profited.[6] Thousands of individual investors of Fairfield Greenwich, J. Ezra Merkin's Ascot Partners, and Chais Investments are not included.[7]
Several newspapers and news services, including Bloomberg News, The New York Times (NYT), and The Wall Street Journal (WSJ), compiled lists of these investors during the first few months of the scandal, including fabricated gains in the amounts lost. These lists may include double-counting; for example, they may count investments by feeder funds into Madoff Securities, as well as investments made into the feeder funds.
| Madoff investor | Investor type | Potential exposure | Source |
|---|---|---|---|
| Fairfield Sentry (Fairfield Greenwich Group) | US investment firm; Madoff feeder fund | $7,500 million | (firm statement) WSJ[8] |
| Grupo Santander | Spanish bank | $3,500 million | El País |
| Kingate Management | Bermuda hedge fund; Madoff feeder fund | $3,500 million | Bloomberg |
| Rye Investment Management (Tremont Group) | US hedge fund; Madoff feeder fund | $3,100 million | WSJ[8] |
| Bank Medici of Austria | Austrian bank | $2,800 million | Bloomberg |
| Ascot Partners | US hedge fund; Madoff feeder fund | $1,800 million | WSJ[8] |
| Access International Advisors | US hedge fund; Madoff feeder fund | $1,400 million | Bloomberg |
| Fortis Bank Nederland | Dutch Bank | $1,350 million | firm statement; WSJ[8] |
| Thema Fund | Irish hedge fund; Madoff feeder fund | $1,100 million | media reports[citation needed] |
| HSBC | British bank | $1,000 million | firm statement; WSJ[8] |
| Genevalor Benbassat & Cie | Swiss bank; Madoff feeder fund | $935 million | Le Temps |
| Aurelia Finance | Swiss bank; Madoff feeder fund | $800 million | Le Temps |
| Union Bancaire Privée | Swiss bank | $700 million | WSJ[8] |
| Natixis | French bank | $600 million | Bloomberg |
| Royal Bank of Scotland | British bank | $600 million | media reports[citation needed] |
| Sterling Equities | investment firm | $500 million | New York Post |
| BNP Paribas | French bank | $475.3 million | Bloomberg |
| BBVA | Spanish bank | $404 million | Reuters |
| Fix Asset Management | US alternatives firm | $400 million | firm statement |
| Ruth and Carl J. Shapiro | US individuals | $400 million | WSJ |
| RMF (Man Group) | UK hedge fund | $360 million | firm statement; WSJ[8] |
| Nomura | Japanese broker | $358.9 million | WSJ[8] |
| Reichmuth Matterhorn | Swiss private bank | $330 million | Bloomberg |
| Normal Holdings | $302 million | StreetInsider.com | |
| Pioneer Alternative Investments | Irish alternatives firm | $280 million | Bloomberg |
| Maxam Capital Management | US fund of hedge funds; Madoff feeder fund | $280 million | WSJ[8] |
| J.P. Jeanneret Associates | investment adviser | $250 million | The Post Standard (www.syracuse.com) |
| EIM Group | European bank | $230 million | Le Temps/WSJ[8] |
| Ira Rennert | US individual | $200 million | FINalternatives |
| Bank Austria | Austrian bank | $192.1 million | Der Standard |
| Ulatan Holdings Inc (UGI Capital Fund) | Family Office Holdings | $191.6 million | WSJ[8] |
| Tremont Capital Management (Tremont Group) | US fund of hedge funds | $190 million | firm statement |
| M&B Capital Advisers | Spanish money manager | $187.9 million | El Mundo |
| Jerome Fisher (Nine West founder) | individual | $150 million | media reports[citation needed] |
| Carl and Ruth Shapiro Family Foundation | charity | $145 million | The Boston Globe |
| Yeshiva University | US Jewish university endowment | $140 million | Bloomberg |
| Aozora Bank | Japanese bank | $137 million | WSJ[8] |
| Axa | French insurer | less than $135 million | Reuters |
| Crédit Mutuel | French bank | $124 million | Bloomberg |
| Dexia | Franco-Belgian bank | $106.9 million | firm statement |
| UniCredit | Italian financial firm | $100 million | Bloomberg |
| Hadassah | Jewish charity | $90 million | WSJ[8] |
| Unione di Banche Italiane | Italian bank | $84.9 million | Bloomberg |
| Nordea | Swedish bank | $65 million | Reuters |
| Hyposwiss Private Bank Genève | Swiss private bank | $50 million | Reuters; WSJ[8] |
| Korea Life Insurance Co. | Korean insurer | $50 million | Yonhap News |
| Banque Benedict Hentsch | Swiss private bank | $47.5 million | firm statement |
| Royal Dutch Shell | Anglo-Dutch pension | $45 million | Reuters |
| Almus Capital | US Family Office | $42.4 million | Reuters |
| Town of Fairfield, Connecticut | US pension fund | $42 million | WSJ[8] |
| Royal Bank of Canada | Canadian bank | $40.4 million | The Globe and Mail |
| Wolosoff Foundation | charity | $38 million | FINalternatives |
| Bramdean Asset Management | asset manager | $31.2 million | WSJ[8] |
| Mortimer B. Zuckerman Charitable Remainder Trust (New York Daily News owner's charity) | US charity | $30 million | CNBC |
| Arthur I. and Sydelle F. Meyer Charitable Foundation | charity | $29.2 million | The Palm Beach Post |
| Chris Lighty | individual | $23 million | Boston Herald |
| Sumitomo Life Insurance Co. | Japanese insurer | $22 million | WSJ[8] |
| Madoff Family Foundation | Bernard Madoff's Charity | $19 million | WSJ |
| Los Angeles Jewish Community Foundation | Jewish charity | $18 million | WSJ[8] |
| Foundation for Humanity (Elie Wiesel's charity) | charity | $15.2 million | WSJ[8] |
| America-Israel Cultural Foundation | US-Israeli charity | $15 million | NYT[9] |
| KSM Capital Advisors | investment firm | $15 million | Indianapolis Business Journal |
| The Phoenix Holdings | Israeli financial services company | $15 million | firm statement |
| Harel Insurance Investments and Financial Services | Israeli insurer | $14.2 million | WSJ[8] |
| Alicia Koplowitz | individual | $13.7 million | Europa Press |
| Groupama | French Insurer | $13.6 million | firm statement |
| Société Générale | French bank | less than $13.5 million | Reuters |
| Bâloise | Swiss insurer | $13 million | WSJ[8] |
| Lautenberg Family Foundation | charity | $12.8 million | media reports |
| Crédit Agricole | French bank | less than $12.32 million | WSJ[8] |
| KAS Bank | bank | $12.3 million | firm statement |
| Marion and Elie Wiesel | US individuals | $12 million | WSJ |
| Massachusetts Pension Reserves Investment Management | US pension | $12 million | Reuters |
| Mitsubishi UFJ Financial Group | Japanese financial institution | $11 million | Bloomberg |
| Hampshire County Council | pension | $10.7 million | IPE |
| PWA Asset Holding Joint Trust | US individual | $10.5 million | WSJ |
| United Jewish Endowment Fund | Jewish charity | less than $10 million | JTA |
| Banco Popolare | Italian bank | $9.86 million | WSJ[8] |
| Korea Teachers Pension | Korean pension | $9.1 million | WSJ[8] |
| Robert I. Lappin Charitable Foundation | Jewish charity | $8 million | The Washington Post |
| Chais Family Foundation | Jewish charity | $7 million | WSJ |
| Jewish Federation of Greater Los Angeles | Jewish charity | $6.4 million | media reports[citation needed] |
| Technion – Israel Institute of Technology | Israeli university | $6.4 million | Globes[citation needed] |
| Vincent Tchenguiz | British individual | $6.3 million | FINalternatives |
| The Ramaz School | Jewish school | $6 million | WSJ[8] |
| Irwin Kellner (named plaintiff on first lawsuit against Madoff) | individual | $6 million | lawsuit[citation needed] |
| Julian J. Levitt Foundation | Jewish charity | $6 million | WSJ |
| North Shore-Long Island Jewish Health System | US pension fund | $5.7 million | WSJ[8] |
| Stony Brook University Foundation | US university endowment | $5.4 million | Bloomberg |
| Maimonides School (Boston) | Jewish school | $5 million | Bloomberg |
| Neue Privat Bank | Swiss bank | $5 million | WSJ[8] |
| Congregation Kehilath Jeshurun (New York) | synagogue | $3.5 million | WSJ[8] |
| Dorset County Pension Fund | UK pension | $3.5 million | LocalGov.co.uk |
| Almus Real Estate Investments | individual | $3.4 million | firm statement |
| Clal Insurance | Israeli insurer | $3.1 million | WSJ[8] |
| New York Law School | US law school | $3 million | lawsuit[citation needed] |
| Swiss Reinsurance Co. | Swiss reinsurer | $3 million | WSJ[8] |
| Global Specialised Opportunities 1 | Bermuda fund | $2.8 million | fund statement |
| Larry King | U.S. individual | $2.8 million | GQ[10] |
| Banca March | Spanish Bank | $2.5 million | Cinco Días |
| American Friends of Yad Sarah | Jewish charity | $1.5 million | WSJ[8] |
| Caisse des dépôts et consignations | French bank | $1.38 million | Bloomberg |
| SAR Academy (New York) | US school | $1.2 million | Bloomberg News |
| Harold Roitenberg | US individual | $1 million | Minneapolis Star-Tribune |
| Allegretto Fund | Hedge fund | $790,000 | firm statement |
| Mediobanca | Italian bank | $671,000 | WSJ[8] |
| Stanford Financial Group | international financial services firm that managed a Ponzi scheme separate from the Madoff Ponzi scheme | $600,000 (£400,000) | The Times |
| Allianz Global Investors | German investment firm | n/a | Citywire |
| Austin Capital Management | fund of hedge funds | n/a | Reuters |
| AWD | financial services provider | n/a | Citywire |
| Kevin Bacon and Kyra Sedgwick (actors) | US actors | n/a | New York magazine[11] |
| Banesto | Spanish bank | n/a | Reuters |
| Ed Blumenfeld (Long Island real estate developer) | US individual | n/a | Long Island Business News |
| Norman Braman (former Philadelphia Eagles' owner) | US individual | n/a | WSJ |
| Chair Family Foundation | US charity | n/a | FINalternatives |
| Erste Bank | Austrian bank | n/a | Der Standard |
| Fair Food Foundation | US charity | n/a | Crain's Detroit Business |
| Leonard Feinstein (Bed Bath & Beyond co-founder) | US individual | n/a | Newark Star-Ledger |
| Avram and Carol Goldberg (Stop n Shop founders) | US individuals | n/a | Reuters |
| Joyce Z. Greenberg (donor to Jewish cultural programs) | individual | n/a | Houston Chronicle |
| Bank Gutmann AG | Austrian bank | n/a | Citywire |
| members of the Hillcrest Country Club (Saint Paul, Minnesota) | US club | n/a | Star-Tribune |
| INTAC Global Preservation Hedge Portfolio (via Rye Investment Management) | fund of hedge funds | n/a | fund documents[citation needed] |
| JEHT Foundation | US charity | n/a | foundation statement |
| Henry Kaufman (former chief economist at Salomon Brothers) | US individual | n/a | WSJ |
| KBC Bank | Belgian bank | n/a | firm statement |
| Sandy Koufax | US individual | n/a | Associated Press[12] |
| Knowsley MBC | public sector pension | n/a | LocalGov.co.uk |
| Rodger Krouse (co-founder of private equity firm Sun Capital Partners) | US individual | n/a | The New York Times[13] |
| Last Atlantis Capital Management | fund of hedge funds | n/a | fund documents |
| Leonard Litwin | US individual | n/a | Bloomberg |
| Liverpool City Council | UK pension | n/a | LocalGov.co.uk |
| LLBW | German bank | n/a | Citywire |
| Mirabaud | bank | n/a | Le Temps |
| The Moriah Fund | charity | n/a | FINalternatives |
| MorseLife | charity | n/a | Palm Beach Post |
| Notz, Stucki & Cie | Swiss bank | n/a | Le Temps |
| Members of the Oak Ridge Country Club (Hopkins, MN) | US individuals | n/a | Star-Tribune |
| Optimal Investment Services (Grupo Santander) | alternatives firm | n/a | Bloomberg |
| Palm Beach Country Club | US country club | n/a | CNBC |
| Eric Roth (screenwriter) | US individual | n/a | Los Angeles Times |
| St. Helens MBC | UK pension | n/a | LocalGov.co.uk |
| Sefton MBC | UK pension | n/a | LocalGov.co.uk |
| SNS Reaal Groep | Dutch financial services firm | n/a | Bloomberg |
| Family of former New York Governor Eliot Spitzer | US individuals | n/a | Clusterstock.com |
| Symphony Fund (via Pioneer Alternative Investments) | fund of hedge funds | n/a | fund documents |
| Jeff Tucker (Stone Bridge horse farm owner, Fairfield Greenwich Group founding partner) | US individual | n/a | WNYT television |
| Thyssen family | family office | n/a | Clusterstock.com |
| UBS | Swiss bank | n/a | Reuters |
| Lawrence Velvel (Dean Emeritus,[14] Massachusetts Law School) | US individual | n/a | WSJ |
| Wilpon family (New York Mets owner) | family office | n/a | WSJ |
| Wunderkinder Foundation (Steven Spielberg's charity) | charity | n/a | WSJ |
| Shusaku Arakawa and Madeline Gins | US couple | n/a | WSJ[15] |
References
[edit]- ^ Bray, Chad (March 12, 2009). "Madoff Pleads Guilty to Massive Fraud". The Wall Street Journal. Dow Jones, Inc. Retrieved March 12, 2009.
- ^ Safer, Morley (September 27, 2009). "The Madoff Scam: Meet The Liquidator". 60 Minutes. CBS News. pp. 1–4. Archived from the original on January 2, 2013. Retrieved September 28, 2009.
- ^ Affidavit of Mailing, SIPC v. Bernard L. Madoff Investment Securities LLC, No. 08-01789 (Bankr. S.D.N.Y. Feb. 4, 2009).
- ^ "Madoff Client List" (PDF). The Wall Street Journal. Retrieved March 1, 2013.
- ^ Searcey, Dionne; Efrati, Amir (February 6, 2009). "Madoff Clients Exposed". The Wall Street Journal.
- ^ "Madoff Client List" (PDF). The Wall Street Journal.
- ^ Chew, Robert (February 5, 2009). "The Bernie Madoff Client List Is Made Public". Time. Archived from the original on February 7, 2009. Retrieved May 8, 2010.
- ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad ae af "Madoff's Victim List". The Wall Street Journal. March 6, 2009. Retrieved March 1, 2013.
- ^ Wakin, Daniel J. (May 21, 2009). "Madoff Loss Hits Art Aid for Young in Israel". The New York Times.
- ^ Heath, Chris (May 1, 2009). "The Enduring Larry King". GQ. Retrieved February 2, 2021.
- ^ Pressler, Jessica (December 30, 2008). "Madoff's Latest Victims: Kevin Bacon and Kyra Sedgwick". New York.
- ^ "Hall of Famer Sandy Koufax among those swindled by Bernie Madoff". ESPN. Associated Press. February 4, 2009.
- ^ The New York Times: "In a Romney Believer, Private Equity’s Risks and Rewards" by JULIE CRESWELL January 21, 2012
- ^ "Dean Emeritus Lawrence Velvel". Massachusetts School of Law. Retrieved February 4, 2016.
- ^ Efrati, Amir (March 24, 2009). "Couple's Dreams of Immortality at Death's Door, Thanks to Madoff: Artists Who Design Homes to Prolong Life Lost Their Life Savings; Undulating Floors". Retrieved March 21, 2017.
External links
[edit]- "Madoff's Clients". The New York Times. April 1, 2009. Archived from the original on April 3, 2009.
- "Searching the Madoff List". The New York Times. November 21, 2016.
- "List Of Entities Announcing Exposure To Madoff Investments". The Wall Street Journal. January 26, 2009. | Last updated March 2009