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The Madoff Mess

Monday, December 15, 2008

More investors -- both individual and instutional -- revealed their exposure to Bernard Madoff Securities today, widening the fallout from Madoff's Ponzi scheme. As NBR correspondent Stephanie Dhue reports, the SEC investigated Madoff's firm in 2005 and 2007 and found nothing more than minor problems.



Discuss this series on XChange - The NBR Blog.

Partial List of Bernard Madoff's Investors

Individual Investors and Firms with Exposure to Bernard Madoff Securities As of Decemeber 15, 2008

Banque Benedict Hentsch & Cie (Switzerland)

BNP Paribas (France)

Bramdean Alternatives

Chais Family Foundation

Elie Wiesel Foundation

Fairfield Greenwich Group

+ MORE

Compiled from wire reports & company statements

Were your investments exposed to Bernard Madoff?

If you believe you are a victim of Bernard Madoff's alleged fraud, there are a number of resources you can turn to for more information:

• If a third party (broker, fund, etc.) working on your behalf invested your money with Madoff Securities, you will, of course, want to contact that third party for more information.
• The U.S. District Court for the Southern District of New York placed Madoff Securities into receivership. You can contact the receiver at 888-727-8695.
• The Securities Investors Protection Corporation (SPIC) is liquidating the assets of Madoff Securities. For more information, contact the SIPC at asksipc@sipc.org or 202-371-8300.

External Links/Articles*

• Bernard L. Madoff Investment Securities
  The Madoff Securities website curently explains that the company is in receivership. A link to the court order is provided.
• National Public Radio (NPR)
  This links to an informative NPR blog entry titled, "Defining 'Ponzi Scheme.'"
• Securities and Exchange Commission (SEC)
  The SEC regulates equity markets in the U.S. This links to a December 11, 2008 press release issued by the SEC titled, "SEC Charges Bernard L. Madoff for Multi-Billion Dollar Ponzi Scheme."
• Securities Investors Protection Corporation (SPIC)
  The SPIC works to restore "funds to investors with assets in the hands of bankrupt and otherwise financially troubled brokerage firms." This links to a December 15, 2008 press released issued by the firm titled, "Liquidation Proceeding for Bernard L. Madoff Investment Securities LLC Undertaken by Securities Investor Protection Corporation."
• Shulman, Rogers, Gandal, Pordy & Ecker
  Shulman Rogers is a law firm located in Rockville, Maryland. This links to a bio to one of the firm's attorneys, Jacob Frenkel, who is interviewed in Stephanie Dhue's report.

*Clicking these external links will take you off the NBR web site on PBS.org. NBR has no affiliation with these sites.