Welcome to CanadianHedgeWatch.com
Sunday, October 13, 2019

Madoff Investors Thought They Had $41 Billion With Firm: Table


Date: Wednesday, January 14, 2009
Author: Josh Fineman, Bloomberg.com

Clients of Bernard Madoff, the money manager charged with fraud, are still trying to calculate their losses, and a Bloomberg tally of disclosures and news reports shows investors think they had about $41 billion with his New York-based firm.

In some cases, individual investor and bank losses may also be included in the total of reports from funds. Before his arrest Dec. 11, Madoff, 70, confessed to his sons that his “giant Ponzi scheme” may have cost clients as much as $50 billion, according to an FBI complaint.

Client                   Total          Source

Access International $1.4 billion Company statement,
Advisors Bloomberg Data

Alicia Koplowitz, $6 million Bloomberg News
One of Spain’s richest
women

Aozora Bank Ltd. 12.4 billion Company statement
yen ($137
million)

Baltimore Police and $3.5 million Bloomberg News
Fire Pension Fund

Bard College $3 million Bloomberg News

Banco Santander SA 2.33 billion Company statement
euros ($3.1
billion)

Bank Medici AG $3.2 billion Bloomberg News

Banque Benedict Hentsch $48 million Company statement
& Cie. SA

BBVA 300 mln euros Company Statement
($404 mln)

Benbassat & Cie. $935 million Reuters, citing Le Temps

BNP Paribas SA Up to 350 Company statement
million euros
($478.2 mln)

Boston philanthropist $145 million Boston Globe
Carl Shapiro’s
charitable foundation

Bramdean Alternatives 9.5 percent Company statement
Ltd. of assets

Brighton Co. $250 million Los Angeles Times
Stanley Chais

Groupe Caisse d’Epargne Less than Company statement
8 mln euros
($11.2 mln)

Caisse des Depots 1 mln euros Bloomberg News
et Consignations ($1.4 mln)

Clal Insurance 3 mln shekels Company statement
($778,800)

CNP Assurances 3 mln euros Company statement
($4.1 million)

Congregation Kehilath $3.5 million Bloomberg News
Jeshurun letter

Credit Mutuel 90 mln euros Bloomberg News
($124 million)

Credit Suisse 900 mln-1 bln Sonntag
Swiss francs
($843-937 mln)

Dexia SA 78 million Company statement
euros ($106.9
million)


Edward Blumenfeld, Undetermined Bloomberg News
real-estate developer

EFG International $130 million Company statement

EIM Group $230 million Bloomberg News

Elie Wiesel Foundation $15.2 million Web site
For Humanity

Fairfield Greenwich $7.5 billion Bloomberg News,
Group Company Statement

Fix Asset Management $400 million Company Statement

Fortis Bank Netherlands 1 bln euros Bloomberg News
($1.4 bln)

GMAC LLC Chairman Most of its Wall Street Journal
Jacob Ezra Merkin’s $1.8 billion
Ascot Partners LLC of assets
and Gabriel Capital LP $1.5 billion Bloomberg News
Ariel Capital Bloomberg News

Great Eastern $44 million Company statement
Holdings Ltd.

Groupama 10 mln euros Company Statement
($14 mln)

Hadassah $90 million Bloomberg News

Harel Insurance $14.2 million Company statement
Investments & Financial
Services Ltd.

Harley International $2.76 billion Bloomberg News

Horowitz Association $800 million Haaretz newspaper

HSBC Holdings Plc $1 billion Company statement

Ira Rennert, Undetermined Variety
CEO, Renco Metals

J.P. Jeanneret Undetermined Syracuse Post-Standard
Associates

Jeffrey Katzenberg, Undetermined Wall Street Journal
DreamWorks Animation

JEHT Foundation Undetermined; Company Statement
Will close

Julian J. Levitt $6 million Washington Post
Foundation

Kas Bank NV 9 mln euros Company statement
$12.3 mln

Kevin Bacon and Undetermined New York Daily News
Kyra Sedgwick, actors

Kingate Management Ltd. $3.5 billion Bloomberg News,
FIM Advisors LLP Bloomberg Data

Korea Life Insurance Co. $50 million Yonhap News

Korea Teachers Pension $9.1 million Company statement

Leonard Litwin Undetermined Spokesman

Lilianne Bettencourt, Undetermined Bloomberg News
France’s richest woman

Madoff Family Foundation $19 million Washington Post

Maimonides School $5 million Bloomberg News

Man Group Plc $360 million Company statement

Maxam Capital $280 million Wall Street Journal
Management LLC

Massachusetts state $12 million Boston Herald
pension fund

Marc Rich $10 million- Bloomberg News,
$15 million New York Times

M&B Capital Partners 137.4 mln El Mundo newspaper
euros
($187.9 mln)

Mediobanca $671,000 Company statement

Michael Steinhardt, $2 million Bloomberg News
retired hedge-fund
manager

Mirabaud & Cie. A few million Reuters, citing Le Temps
Swiss Francs

Mitsubishi UFJ $11 million Company spokesman
Financial Group Inc.

Montana residents $18 million Montana government

Mort Zuckerman’s $30 million CNBC Interview
charitable trust

Natixis Up to 450 Company statement
million euros
($614 mln)

Neue Privat Bank $5 Million Bloomberg News

New Mexico Educational $9.7 Million Bloomberg News
Retirement Board

New York Mets Undetermined Company statement
owner Fred Wilpon’s
Sterling Equities Inc.

New Orleans Employees’ $400,000 Bloomberg News
Retirement System

New York State $100 million- CNBC
Carpenters $150 million
Pension Fund

New York University At least Company complaint
$24 million

Nomura Holdings Inc. $302 Million Company statement

Nordea Bank AB 48 mln euros Company statement
($65.6 mln)

Norman Braman, Undetermined Wall Street Journal
Former owner,
Philadelphia Eagles
Football Team

North Shore-Long Island $5 million Company statement
Jewish Health System

Notz, Stucki & Cie 760 mln Le Temps
Swiss francs
($696 mln)

Phoenix Holdings 48 mln shekels Company Statement
($12.42 mln)

Philoctetes Center undetermined Web site

Picower Foundation undetermined New York Times

Pioneer Alternative $280 million Bloomberg News
Investments

Ramaz School $6 million Bloomberg News
associated with letter

Reichmuth & Co.’s $330 million Letter to clients
Reichmuth Matterhorn
fund

Robert I. Lappin $8 million Washington Post
Charitable Foundation

Royal Bank of Canada Less than Globe and Mail
C$50 million
($40 million)

Royal Bank of $360 million Company statement
Scotland Group Plc

SNS Real Groep NV “minimal Bloomberg News
exposure”

Sterling Stamos Undetermined Letter to clients
Capital Management
(through Ezra Merkin’s
Gabriel Capital Group)

Societe Generale SA Less than 10 Company statement
million euros
($13.7 mln)

Sumitomo Life 2 billion yen Company spokesman
Insurance Co. ($22 million)

Technion 25 mln shekels Company statement
($6.5 mln)

Telefonica SA’s 7.3 mln euros ABC newspaper
pension fund ($10.6 mln)

Tremont Group $3.1 billion Bloomberg News
Holdings Inc.

UniCredit SpA 75 mln euros Company statement
($102.5 mln)

Union Bancaire Privee # Less than Company statement
1.26 billion
Swiss francs
($1.08 billion)

Unione di 60.4 mln euros Company statement
Banche Italiane SCPA ($85 million)

U.S. Senator Frank Undetermined Bergen Record,
Lautenberg’s Bloomberg News
Charitable Foundation

Steven Spielberg’s Undetermined Wall Street Journal
Wunderkinder Foundation Bloomberg


Yeshiva University $14.5 million Bloomberg News


Total (approximate) $41 billion

Notes:
# Based on 1 percent of assets under management as of June 30.

To contact the reporters on this story: Joshua Fineman in New York at jfineman@bloomberg.net.