MADOFF VICTIMS' RE$CUE? (pressure on Treasury to boost SIPC fund)

NY Post ^ | 01/04/09 | JAMES DORAN

[TigerLikesRooster]

MADOFF VICTIMS' RE$CUE?

By JAMES DORAN

January 4, 2009 -- Angry victims of Bernie Madoff's alleged $50 billion Ponzi scheme want a bailout from Uncle Sam, too.

On the heels of Washington's $700 billion rescue of the nation's ailing banks and the $17.4 billion rescue of the auto industry, the Madoff victims are now calling on the US Treasury to augment the $1.6 billion in the coffers of the Securities Investor Protection Corporation - the organization set up to help victims of collapsed brokerages.

SIPC has pledged just $500,000 to each Madoff victim who had an open account with the fraudster's firm in the past 12 months - but that may not even come close to covering the Madoff losses, which are thus far estimated to be somewhere between $30 billion and $50 billion.

"What if it turns out that SIPC needs $15 billion to compensate all the victims because this fraud is bigger than anything they imagined could happen?" said Michael Sirota, a lawyer representing KML Investments, a firm that claims to have lost some $80 million to Madoff. "I think the US government should step up with funds to help like it has for the banking sector and the automotive sector."

"We desperately need to see the pool of assets we are working with and also the pool of losses," added Stuart Rich, a lawyer representing a group known as Jasper Investors that lost some $3 million to Madoff's scam, who also said Washington needs to step up to the plate with bailout money.

"SIPC has always been there to compensate victims in this kind of

[Chgogal]

If the Government bails out these people who gave their “well connected golf buddy” their investment money then the Government had better bail me out as well. The Government would be wise not to bailout these greedy, stupid, lazy, poorly informed creeps. Yes, Zuckerman, I am including you IF you dare accept bailout money.

[Wolfie]

Scary when the rich become socialist...

I have a feeling its a distinctly one-way kind of socialism they're embracing.

[DB]

I don't buy he did it all by himself. For example the auditing company had to be part of the scheme as well.

He also paid higher than 10% returns. Apparently they were closer to 12% consistently.

[Liz]

Some of Madoff's clients might be facing serious legal problems---- some investors were writing personal checks that were placed with a separate financial entity that was not listed on the SEC. That might be construed as money-laundering and tax evasion.

Plus investors who made money on this scheme will have to give it back......under the legal doctrine of "fraudulent conveyance" meaning that investors who withdrew their money before the fraud was revealed, will be forced to return their profits or even part of their initial investments. Returning funds is mandatory for clients who knew Madoff's business was fraudulent.

=================================

Keep in in mind that the SEC received complaints ONLY from Madoff's competitors. Not one client ever filed a complaint...........

Now Bernie‘s investors were savvy, astute successful business people, accustomed to constructing, picking apart and analyzing financial statements. One investor who spoke to reporters was a stockbroker (her family invested with Bernie for generations---the family's patriarch founded the wildly successful Stop and Shop supermarket chain). Other inevstors gave Madoff $100-500 millions to "invest" for years and years.

ORGANIZING LEGAL PRINCIPLE The following should foreclose any cockamamie ideas that taxpayers are gonna bailout these mega-millionaires (who most assuredly have money stashed offshore out of sight of the SEC and IRS).

The compelling legal principle of “condonation” is operating here---implied forgiveness for certain behavior. Meaning investors implicitly “condoned” Madoff’s actions over a period of time--sometimes decades.

His investors willingly acquiesced to Madoff's activities in several ways:

(1) Sending Madoff enormous sums of money, sums that were spread out over time (some families invested for generations), even AFTER they had the opportunity to assess their investments;

(2) Referring other investors to Madoff (if the investment was so bad, why did they bring in other investors?);

(3) Taking profits out of the investment, rolling it over, or putting more money in;

(4) Writing PERSONAL checks to Madoff's subrosa spinoff vehicle that was not listed on the Securities Exchange (tax evasion modus);

(5) Accepting, without question, Madoff’s obviously flawed monthly statements.

============================================

REFERENCE: by Ronald D. Orol, MarketWatch reporter, based in Washington.

EXCERPT There were several things that alerted some in the hedge-fund industry that an investment with Madoff may not have been as safe as it initially appeared. Aksia LLC, which researches hedge funds and advises institutions about investing in the industry, said that it never recommended that clients put money in some of the "feeder funds" that allocated their capital to Madoff. On the surface, these feeder funds looked like institutional-quality vehicles, but there were "a host of red flags," Aksia Chief Executive Jim Vos and colleague Jake Walthour wrote in a letter to clients after the Madoff scandal erupted last week.

The funds were marketed as using a "split-strike conversion" investment strategy that is "remarkably" simple, but the returns it purportedly generated could not be replicated by Aksia's quantitative analyst, Vos and Walthour wrote.

The Madoff funds supposedly traded in the Standard & Poor's 100 index options market, but that market is relatively small and may not have been able to handle trading by vehicles with roughly $13 billion in assets, they said. The feeder funds had almost all their assets custodied with Madoff Securities, the brokerage unit of Madoff's firm.

Aksia checked into the auditor of Madoff Securities and discovered it was a firm called Friehling & Horowitz, which had three employees -- one of whom was 78 years old and another was a secretary. The firm's office in upstate New York was 13 feet by 18 feet. Madoff's Web site claimed the firm was technologically-advanced, but it sent paper confirmations of trades via US mail at the end of each day, rather than providing electronic access to this important information.

Paper copies provide a hedge-fund manager with the end-of-the-day ability to manufacture trade tickets that confirm the investment results.

================================================

THEY HAD TO KNOW THIS WAS A SCAM. Bernie‘s investors were savvy, astute successful business people, accustomed to picking apart and analyzing financial statements. WANT MORE PROOF? Bernie's "investors" were writing PERSONAL checks to Madoff's subrosa separate "investment" vehicle that was not listed on the Securities Exchange. This is clearly a money laundering, tax evasion modus.

[Liz]

HOW'D HE DO THAT?

The Securities Investor Protection Corp (receiver of Madoff's now-defunct fund) is examining Madoff's New York Mellon Bank accounts that appear to have sent and received money from offshore locations..........

Signicantly many of the entities invested with Madoff are tax-exempt non profit "charities and foundations"---which the IRS has labled as massive tax evasion schemes. Madoff might have manufactured falsified “loss statements” as a tax evasion ploy.

To pull off a $50 billion scheme, the Madoff cabal would have had to involve investors, relatives, associates, co-conspirators (or subsets of them), businesses and tax-exempt organizations........colluding together with similar goals like tax evasion and money laundering.

Madoff may have escaped scrutiny by routing his scheme through telephone lines with a maze of complex telecommunications' systems equipped with call-forwarding and voice mail systems, and numerous postal and commercial mail boxes..........and perhaps unregulated money-transfer systems that operate below the oversight radar in ethnic enclaves and places like NYC's Diamond District.

The "investment" monies could have been disguised (to evade the IRS) by routing through a network of domestic and international bank accounts using counterfeit checks.....opening commercial bank accounts in the name of bogus businesses and wire-transferring and/or depositing "investment" checks into those accounts.

The checks could have had invalid bank routing numbers, forged endorsements, or been drawn on the proceeds of other counterfeit checks deposited in other bank accounts. Before banks discovered the fraud, the funds might have been transferred out of the accounts……probably offshore----leaving banks unable to recoup their losses.

State and federal tax authorities could have been swindled, if the scheme involved filing hundreds of phony tax returns in real or fictitious names, falsely claiming federal EITC credits (meant to benefit low-income earners).

In an international scheme with offshore ties, the co-conspirators or subsets of them might have obtained hundreds of taxpayer identification numbers for phantom citizens with worldwide addresses, and used the information, along with phony passports, to claim hundreds of bogus tax refunds.

Investigators poring over Madoff's books have discovered he routinely falsified documents. Using classic fraud techniques, Madoff kept two (or more) sets of books. One set keeps track of losses at Bernard L. Madoff Investment Securities LLC's (his investment advisory arm), while the other set of books is what investors were shown.

NOTE The SIPC is financed by the securities industry and hands out reimbursements to investors who lost money through LEGIT brokerages. It was not intended to reimburse individuals involved in shady schemes with people like Madoff.

[DB]

That all makes a lot of sense.

The problem is when politics get involved.

Then rational thought is not a prerequisite...

[TenthAmendmentChampion]

So will they bail out the investors even the evidence that most of them knew it was a fraud?

[Liz]

These people are very, very shrewd....they got millions to “invest” not b/c they are nice guys but b/c they know how to work the system.

Madoff is a racketeer of the first rank.....and most all the “investors” know it. Madoff escaped scrutiny for years——and had plenty of help.........his “investors.”

[TenthAmendmentChampion]

Please note that some of the individuals and charities may have invested through funds, such as Ascot Partners, so there may be some double-counting going on.

 

Madoff Investor	Investor Type	Potential Exposure	Source
Access International Advisors	hedge fund	$1.4 billion
Alicia Koplowitz	individual	$13.7 million	Europa Press
Allegretto Fund	hedge fund	$790,000	firm statement
American Friends of Yad Sarah	charity	$1.5 million	JTA
Aozora Bank	bank	$137 million	firm statement
Aquila Capital Select 3 Zertifikat	fund of hedge funds	$2.52 million	fund documents
Arnold and Joan Sinkin	individuals	$1 million	The Guardian
Arthur I. and Sydelle F. Meyer Charitable Foundation	charity	$29.2 million	Palm Beach Post
Ascot Partners (Madoff feeder fund)	hedge fund	$1.8 billion	Wall Street Journal
Austin Capital Management	fund of hedge funds	n/a	Reuters
Avram and Carol Goldberg (Stop n Shop founders)	individuals	n/a	Reuters
AWD	financial services provider	n/a	Citywire
AXA	insurer less than	$135 million	Reuters
Baloise	insurer	$13 million	Reuters
Banca March	bank	$2.7 million	Cinco Días
Banco Popolare	bank	n/a	MarketWatch
Banesto	bank	n/a	Reuters
Bank Austria	bank	$192.1 million	Der Standard
Bank Medici of Austria	bank	$2.1 billion	Bloomberg
Banque Benedict Hentsch	bank	$47.5 million	firm statement
Barbara Flood	individual	n/a	National Public Radio
BBVA	bank	$404 million	Reuters
Benbassat & Cie	bank	$935 million	Le Temps
Bloomberg Fortis Bank Nederland	bank	$1.35 billion	firm statement
BNP Paribas	bank	$475.3 million	Bloomberg
Bramdean Asset Management	alternatives firm	$31 million	WSJ
Caisse des dépôts et consignations	government-owned bank	$1.38 million	Bloomberg
Caja Madrid	bank	$3.1 million	Cinco Días
Carl and Ruth Shapiro	individuals	$400 million	WSJ
Carl and Ruth Shapiro Family Foundation	charity	$145 million	Boston Globe
Chair Family Foundation	charity	n/a	FINalternatives
Chais Family Foundation	charity	$7 million	WSJ
Clal Insurance	insurer	$778,800	firm statement
Congregation Kehilath Jeshurun (New York)	synagogue	$3.5 million	Bloomberg
Credit Mutuel	bank	$124 million	Bloomberg
David Berger	individual	$5 million	FINalternatives
Dexia	bank	$106.9 million	firm statement
Dorset County Pension Fund	pension	$3.5 million	LocalGov.co.uk
Ed Blumenfeld (Long Island real estate developer)	individual	n/a	Long Island Business News
EIM Group	bank	$230 million	Le Temps
Engelbardt family	family office	n/a	Variety
Eric Roth (screenwriter)	individual	n/a	Los Angeles Times
Erste Bank	bank	n/a	Der Standard
Fair Food Foundation	charity	n/a	Crain's Detroit Business
Fairfield Sentry (Fairfield Greenwich Group)	(Madoff feeder fund) alternatives firm	$7.5 billion	firm statement
family of former New York Gov. Eliot Spitzer	individuals	n/a	Clusterstock.com
family of Sarah Chew	family office	$30 million	Time
FIM Ltd. (Kingate funds manager)	money manager	$3.5 billion	media reports
Fix Asset Management	alternatives firm	$400 million	firm statement
Foundation for Humanity (Elie Wiesel's charity)	charity	n/a	WSJ
Global Specialised Opportunities 1 Bermuda-listed	fund	$2.8 million	fund statement
Great Eastern Holdings	bank	$43.9 million	Reuters
Groupama	insurer	$13.6 million	firm statement
Grupo Santander	bank	$3.5 billion	El Pais
Gutmann	bank	n/a	Citywire
Hadassah	charity	$90 million	JTA
Hampshire County Council	pension	$10.7 million	IPE
Harel Insurance Investments and Financial Services	insurer	$14.2 million	firm statement
Harold Roitenberg	individual	$1 million	Minneapolis Star-Tribune
HSBC	bank	$1 billion	firm statement
Hyposwiss	bank	$50 million	Reuters
INTAC Global Preservation Hedge Portfolio (via Rye Investment Management)	fund of hedge funds	n/a	fund documents
Ira Rennert	individual	$200 million	FINalternatives
Ira Roth	individual	$1 million	WSJ
Irwin Kellner (named plaintiff on first lawsuit against Madoff)	individual	$6 million	Lawsuit
J.P. Jeanneret Associates	investment adviser	$946 million	Syracuse Post-Standard
Jeff Tucker (Stone Bridge horse farm owner, Fairfield Greenwich Group founding partner)	individual	n/a	WNYT television
JEHT Foundation	charity	n/a	Statement
Jerome Fisher (Nine West founder)	individual	$150 million	media reports
Jewish Federation of Greater Los Angeles	charity	$6.4 million	media reports
Joyce Z. Greenberg	individuals	n/a	Houston Chronicle
Julian J. Levitt Foundation	charity	$6 million	WSJ
Kas Bank	bank	$12.3 million	firm statement
KBC	bank	n/a	firm statement
Kenneth and Jeanne Levy-Church (donors to Fair Food and JEHT foundations)	individuals	n/a	Jewish Journal
Kevin Bacon and Kyra Sedgwick (actors)	individuals	n/a	New York magazine
Kingate Management (Madoff feeder fund)	alternatives firm	$2.8 billion	Bloomerg
Knowsley MBC	pension	n/a	LocalGov.co.uk
Korea Life Insurance Co.	insurer	$50 million	Yonhap News
Korea Teachers Pension	pension	$9.1 million	Statement
KSM Capital Advisors	investment firm	$15 million	Indianapolis Business Journal
Last Atlantis Capital Managament	fund of hedge funds	n/a	fund documents
Lautenberg Family Foundation	charity	$12.8 million	media reports
Lawrence Velvel (dean, Massachusetts Law School)	individual	n/a	WSJ
Leonard Feinstein (Bed Bath & Beyond co-founder)	individual	n/a	Newark Star-Ledger
Leonard Litwin	individual	n/a	Bloomberg
Liverpool City Council	pension	n/a	LocalGov.co.uk
LLBW	bank	n/a	Citywire
Loeb family	family office	n/a	CNBC
Los Angeles Jewish Community Foundation	charity	$18 million	Jewish Journal
M&B Capital Partners	money manager	$187.9 million	El Mundo
Madoff Family Foundation	charity	$19 million	WSJ
Maimonides School (Boston)	school	$5 million	Bloomberg
Massachusetts Pension Reserves Investment Management	pension	$12 million	Reuters
Maxam Capital Management (Madoff feeder fund)	fund of hedge funds	$280 million	WSJ
Mediobanca	bank	$671,000	firm statement
Members of the Hillcrest Country Club (St. Paul, Minn.)	individuals	n/a	Star-Tribune
members of the Oak Ridge Country Club (Hopkins, Minn.)	individuals	n/a	Star-Tribune
Merseyside Pension Fund	pension	$3 million	media reports
Michael Roth	individual	$7.5 million	FINalternatives
Mirabaud & Cie	bank	n/a	Le Temps
Mitsubishi UFJ FInancial Group	financial institution	$11 million	Bloomberg
MorseLife	charity	n/a	Palm Beach Post
Mortimer B. Zuckerman Charitable Remainder Trust (New York Daily News owner's charity)	charity	$30 million	CNBC
Natixis	bank	$600 million	Bloomberg
Neue Privat Bank	bank	$5 million	Bloomberg
New York Law School	law school	$3 million	Lawsuit
Nomura	bank	n/a	WSJ
Nordea	bank	$65 million	Reuters
Normal Holdings	.	$302 million	StreetInsider.com
Norman Braman (former Philadelphia Eagles owner)	individual	n/a	WSJ
North Shore-Long Island Jewish Health System	pension fund	$5 million	statement
Notz, Stucki & Cie	bank	n/a	Le Temps
Optimal Investment Services (Grupo Santander)	alternatives firm	n/a	Bloomerg
Palm Beach Country Club	country club	n/a	CNBC
Pioneer Alternative Investments	alternatives firm	$280 million	Bloomberg
RAB Capital hedge	fund	$10 million	Reuters
Reichmuth Matterhorn	bank	$330 million	Bloomberg
Richard Roth	individual	$10 million	FINalternatives
Richard Spring	individual	$11 million	WSJ
RMF (Man Group)	alternatives firm	$360 million	firm statement
Robert and Sarah Chew	individual	$1.2 million	Time
Robert I. Lappin Charitable Foundation	charity	$8 million	Washington Post
Roger Peskin	individual	$3 million	AP
Royal Bank of Canada	bank	$40.4 million	Globe and Mail
Royal Bank of Scotland	bank	$600 million	published reports
Royal Dutch Shell	pension	$45 million	Reuters
Rye Investment Management (Tremont Group) (Madoff feeder fund)	hedge fund	$3.1 billion	Bloomerg News
SAR Academy (New York)	school	$1.2 million	Bloomberg News
Sefton MBC	pension	n/a	LocalGov.co.uk
SNL Reaal Groep	financial services firm	n/a	Bloomberg
Societe General	financial institution	less than $13.5 million	Reuters
St. Helens MBC	pension	n/a	LocalGov.co.uk
Stephen Fine	individual	n/a	Reuters
Sterling Equities	investment firm	$500 million	New York Post
Steven Abbott	individual less than	$1 million	WSJ
Stony Brook University Foundation	university endowment	$5.4 million	Bloomberg
Sumitomo Life Insurance Co.	insurer	$22 million	Bloomberg
Swiss Reinsurance Co.	reinsurer	less than $3 million	firm statement
Symphony Fund (via Pioneer Alternative Investments)	fund of hedge funds	n/a	fund documents
Technion-Israel Institute of Technology	university	$6.4 million	Globes
The Moriah Fund	charity	n/a	FINalternatives
The Phoenix Holdings	insurer	$15 million	firm statement
The Ramaz School	school	$6 million	FINalternatives
Thema (Madoff feeder fund)	hedge fund	n/a	media reports
Thyssen family	family office	n/a	Clusterstock.com
Town of Fairfield, Conn.	pension fund	$42 million	Associated Press
Tremont Capital Management (Tremont Group)	fund of hedge funds	$190 million	firm statement
UBS	bank	n/a	Reuters
UniCredit	financial firm	$100 million	Bloomberg
Union Bancaire Privee	bank	$846 million	Le Temps
Unione di Banche Italiane	bank	$84.9 million	Bloomberg
United Jewish Endowment Fund	charity	less than $10 million	JTA
Victor Schlesinger	Trust	$61 Million	WSJ
Victor Schlesinger, Brooklyn NY T	Trust	$61 Million	WSJ
Vincent Tchenguiz	individual	$6.3 million	FINalternatives
Wilpon family (New York Mets owner)	family office	n/a	WSJ
Wolosoff Foundation	charity	$38 million	FINalternatives
Wunderkinder Foundation (Steven Spielberg's charity)	charity	n/a	WSJ
Yeshiva University	university endowment	$140 million	Bloomberg

[dennisw]

Did you make that table? Very nice.

[TenthAmendmentChampion]

Yes. I’m a technical writer and I do a lot of desktop publishing. :) Thanks!

I’ll have to remember where this is, in case I need it later.

[TenthAmendmentChampion]

See post 69.

[dennisw]

http://www.thedeal.com/dealscape/2008/12/madoffs_victims_list_reportedl.php

Some guy named “Joe Heller” has posted that info in a few places. You can see this in the above URL. I actually got same info from his post on another site. And it was totally unformatted. Unlike the one above

That is how I posted it here. One big blob. But you formatted it into table form which is great

I’m just curious. Where you able to automate the making of that table? My crude way of doing it would be to chop the blob into one line for each Madoff victim. Done on MS Frontpage. Then save it and open up the page I created. Open with IE

I would then make a four column table (like yours) with 50 rows to start. Then drag and drop the part of each victim’s line that goes into the correct column of new table. This can also be done with Word

[dennisw]

I am posting your table so I can see it for quick reference under my “user posts”

[dennisw]

Please note that some of the individuals and charities may have invested through funds, such as Ascot Partners, so there may be some double-counting going on.

(from freeper "TenthAmendmentChampion"

 

Madoff Investor	Investor Type	Potential Exposure	Source
Access International Advisors	hedge fund	$1.4 billion
Alicia Koplowitz	individual	$13.7 million	Europa Press
Allegretto Fund	hedge fund	$790,000	firm statement
American Friends of Yad Sarah	charity	$1.5 million	JTA
Aozora Bank	bank	$137 million	firm statement
Aquila Capital Select 3 Zertifikat	fund of hedge funds	$2.52 million	fund documents
Arnold and Joan Sinkin	individuals	$1 million	The Guardian
Arthur I. and Sydelle F. Meyer Charitable Foundation	charity	$29.2 million	Palm Beach Post
Ascot Partners (Madoff feeder fund)	hedge fund	$1.8 billion	Wall Street Journal
Austin Capital Management	fund of hedge funds	n/a	Reuters
Avram and Carol Goldberg (Stop n Shop founders)	individuals	n/a	Reuters
AWD	financial services provider	n/a	Citywire
AXA	insurer less than	$135 million	Reuters
Baloise	insurer	$13 million	Reuters
Banca March	bank	$2.7 million	Cinco Días
Banco Popolare	bank	n/a	MarketWatch
Banesto	bank	n/a	Reuters
Bank Austria	bank	$192.1 million	Der Standard
Bank Medici of Austria	bank	$2.1 billion	Bloomberg
Banque Benedict Hentsch	bank	$47.5 million	firm statement
Barbara Flood	individual	n/a	National Public Radio
BBVA	bank	$404 million	Reuters
Benbassat & Cie	bank	$935 million	Le Temps
Bloomberg Fortis Bank Nederland	bank	$1.35 billion	firm statement
BNP Paribas	bank	$475.3 million	Bloomberg
Bramdean Asset Management	alternatives firm	$31 million	WSJ
Caisse des dépôts et consignations	government-owned bank	$1.38 million	Bloomberg
Caja Madrid	bank	$3.1 million	Cinco Días
Carl and Ruth Shapiro	individuals	$400 million	WSJ
Carl and Ruth Shapiro Family Foundation	charity	$145 million	Boston Globe
Chair Family Foundation	charity	n/a	FINalternatives
Chais Family Foundation	charity	$7 million	WSJ
Clal Insurance	insurer	$778,800	firm statement
Congregation Kehilath Jeshurun (New York)	synagogue	$3.5 million	Bloomberg
Credit Mutuel	bank	$124 million	Bloomberg
David Berger	individual	$5 million	FINalternatives
Dexia	bank	$106.9 million	firm statement
Dorset County Pension Fund	pension	$3.5 million	LocalGov.co.uk
Ed Blumenfeld (Long Island real estate developer)	individual	n/a	Long Island Business News
EIM Group	bank	$230 million	Le Temps
Engelbardt family	family office	n/a	Variety
Eric Roth (screenwriter)	individual	n/a	Los Angeles Times
Erste Bank	bank	n/a	Der Standard
Fair Food Foundation	charity	n/a	Crain's Detroit Business
Fairfield Sentry (Fairfield Greenwich Group)	(Madoff feeder fund) alternatives firm	$7.5 billion	firm statement
family of former New York Gov. Eliot Spitzer	individuals	n/a	Clusterstock.com
family of Sarah Chew	family office	$30 million	Time
FIM Ltd. (Kingate funds manager)	money manager	$3.5 billion	media reports
Fix Asset Management	alternatives firm	$400 million	firm statement
Foundation for Humanity (Elie Wiesel's charity)	charity	n/a	WSJ
Global Specialised Opportunities 1 Bermuda-listed	fund	$2.8 million	fund statement
Great Eastern Holdings	bank	$43.9 million	Reuters
Groupama	insurer	$13.6 million	firm statement
Grupo Santander	bank	$3.5 billion	El Pais
Gutmann	bank	n/a	Citywire
Hadassah	charity	$90 million	JTA
Hampshire County Council	pension	$10.7 million	IPE
Harel Insurance Investments and Financial Services	insurer	$14.2 million	firm statement
Harold Roitenberg	individual	$1 million	Minneapolis Star-Tribune
HSBC	bank	$1 billion	firm statement
Hyposwiss	bank	$50 million	Reuters
INTAC Global Preservation Hedge Portfolio (via Rye Investment Management)	fund of hedge funds	n/a	fund documents
Ira Rennert	individual	$200 million	FINalternatives
Ira Roth	individual	$1 million	WSJ
Irwin Kellner (named plaintiff on first lawsuit against Madoff)	individual	$6 million	Lawsuit
J.P. Jeanneret Associates	investment adviser	$946 million	Syracuse Post-Standard
Jeff Tucker (Stone Bridge horse farm owner, Fairfield Greenwich Group founding partner)	individual	n/a	WNYT television
JEHT Foundation	charity	n/a	Statement
Jerome Fisher (Nine West founder)	individual	$150 million	media reports
Jewish Federation of Greater Los Angeles	charity	$6.4 million	media reports
Joyce Z. Greenberg	individuals	n/a	Houston Chronicle
Julian J. Levitt Foundation	charity	$6 million	WSJ
Kas Bank	bank	$12.3 million	firm statement
KBC	bank	n/a	firm statement
Kenneth and Jeanne Levy-Church (donors to Fair Food and JEHT foundations)	individuals	n/a	Jewish Journal
Kevin Bacon and Kyra Sedgwick (actors)	individuals	n/a	New York magazine
Kingate Management (Madoff feeder fund)	alternatives firm	$2.8 billion	Bloomerg
Knowsley MBC	pension	n/a	LocalGov.co.uk
Korea Life Insurance Co.	insurer	$50 million	Yonhap News
Korea Teachers Pension	pension	$9.1 million	Statement
KSM Capital Advisors	investment firm	$15 million	Indianapolis Business Journal
Last Atlantis Capital Managament	fund of hedge funds	n/a	fund documents
Lautenberg Family Foundation	charity	$12.8 million	media reports
Lawrence Velvel (dean, Massachusetts Law School)	individual	n/a	WSJ
Leonard Feinstein (Bed Bath & Beyond co-founder)	individual	n/a	Newark Star-Ledger
Leonard Litwin	individual	n/a	Bloomberg
Liverpool City Council	pension	n/a	LocalGov.co.uk
LLBW	bank	n/a	Citywire
Loeb family	family office	n/a	CNBC
Los Angeles Jewish Community Foundation	charity	$18 million	Jewish Journal
M&B Capital Partners	money manager	$187.9 million	El Mundo
Madoff Family Foundation	charity	$19 million	WSJ
Maimonides School (Boston)	school	$5 million	Bloomberg
Massachusetts Pension Reserves Investment Management	pension	$12 million	Reuters
Maxam Capital Management (Madoff feeder fund)	fund of hedge funds	$280 million	WSJ
Mediobanca	bank	$671,000	firm statement
Members of the Hillcrest Country Club (St. Paul, Minn.)	individuals	n/a	Star-Tribune
members of the Oak Ridge Country Club (Hopkins, Minn.)	individuals	n/a	Star-Tribune
Merseyside Pension Fund	pension	$3 million	media reports
Michael Roth	individual	$7.5 million	FINalternatives
Mirabaud & Cie	bank	n/a	Le Temps
Mitsubishi UFJ FInancial Group	financial institution	$11 million	Bloomberg
MorseLife	charity	n/a	Palm Beach Post
Mortimer B. Zuckerman Charitable Remainder Trust (New York Daily News owner's charity)	charity	$30 million	CNBC
Natixis	bank	$600 million	Bloomberg
Neue Privat Bank	bank	$5 million	Bloomberg
New York Law School	law school	$3 million	Lawsuit
Nomura	bank	n/a	WSJ
Nordea	bank	$65 million	Reuters
Normal Holdings	.	$302 million	StreetInsider.com
Norman Braman (former Philadelphia Eagles owner)	individual	n/a	WSJ
North Shore-Long Island Jewish Health System	pension fund	$5 million	statement
Notz, Stucki & Cie	bank	n/a	Le Temps
Optimal Investment Services (Grupo Santander)	alternatives firm	n/a	Bloomerg
Palm Beach Country Club	country club	n/a	CNBC
Pioneer Alternative Investments	alternatives firm	$280 million	Bloomberg
RAB Capital hedge	fund	$10 million	Reuters
Reichmuth Matterhorn	bank	$330 million	Bloomberg
Richard Roth	individual	$10 million	FINalternatives
Richard Spring	individual	$11 million	WSJ
RMF (Man Group)	alternatives firm	$360 million	firm statement
Robert and Sarah Chew	individual	$1.2 million	Time
Robert I. Lappin Charitable Foundation	charity	$8 million	Washington Post
Roger Peskin	individual	$3 million	AP
Royal Bank of Canada	bank	$40.4 million	Globe and Mail
Royal Bank of Scotland	bank	$600 million	published reports
Royal Dutch Shell	pension	$45 million	Reuters
Rye Investment Management (Tremont Group) (Madoff feeder fund)	hedge fund	$3.1 billion	Bloomerg News
SAR Academy (New York)	school	$1.2 million	Bloomberg News
Sefton MBC	pension	n/a	LocalGov.co.uk
SNL Reaal Groep	financial services firm	n/a	Bloomberg
Societe General	financial institution	less than $13.5 million	Reuters
St. Helens MBC	pension	n/a	LocalGov.co.uk
Stephen Fine	individual	n/a	Reuters
Sterling Equities	investment firm	$500 million	New York Post
Steven Abbott	individual less than	$1 million	WSJ
Stony Brook University Foundation	university endowment	$5.4 million	Bloomberg
Sumitomo Life Insurance Co.	insurer	$22 million	Bloomberg
Swiss Reinsurance Co.	reinsurer	less than $3 million	firm statement
Symphony Fund (via Pioneer Alternative Investments)	fund of hedge funds	n/a	fund documents
Technion-Israel Institute of Technology	university	$6.4 million	Globes
The Moriah Fund	charity	n/a	FINalternatives
The Phoenix Holdings	insurer	$15 million	firm statement
The Ramaz School	school	$6 million	FINalternatives
Thema (Madoff feeder fund)	hedge fund	n/a	media reports
Thyssen family	family office	n/a	Clusterstock.com
Town of Fairfield, Conn.	pension fund	$42 million	Associated Press
Tremont Capital Management (Tremont Group)	fund of hedge funds	$190 million	firm statement
UBS	bank	n/a	Reuters
UniCredit	financial firm	$100 million	Bloomberg
Union Bancaire Privee	bank	$846 million	Le Temps
Unione di Banche Italiane	bank	$84.9 million	Bloomberg
United Jewish Endowment Fund	charity	less than $10 million	JTA
Victor Schlesinger	Trust	$61 Million	WSJ
Victor Schlesinger, Brooklyn NY T	Trust	$61 Million	WSJ
Vincent Tchenguiz	individual	$6.3 million	FINalternatives
Wilpon family (New York Mets owner)	family office	n/a	WSJ
Wolosoff Foundation	charity	$38 million	FINalternatives
Wunderkinder Foundation (Steven Spielberg's charity)	charity	n/a	WSJ
Yeshiva University	university endowment	$140 million	Bloomberg

Please note that some of the individuals and charities may have invested through funds, such as Ascot Partners, so there may be some double-counting going on.

(from freeper "TenthAmendmentChampion"

 

Madoff Investor	Investor Type	Potential Exposure	Source
Access International Advisors	hedge fund	$1.4 billion
Alicia Koplowitz	individual	$13.7 million	Europa Press
Allegretto Fund	hedge fund	$790,000	firm statement
American Friends of Yad Sarah	charity	$1.5 million	JTA
Aozora Bank	bank	$137 million	firm statement
Aquila Capital Select 3 Zertifikat	fund of hedge funds	$2.52 million	fund documents
Arnold and Joan Sinkin	individuals	$1 million	The Guardian
Arthur I. and Sydelle F. Meyer Charitable Foundation	charity	$29.2 million	Palm Beach Post
Ascot Partners (Madoff feeder fund)	hedge fund	$1.8 billion	Wall Street Journal
Austin Capital Management	fund of hedge funds	n/a	Reuters
Avram and Carol Goldberg (Stop n Shop founders)	individuals	n/a	Reuters
AWD	financial services provider	n/a	Citywire
AXA	insurer less than	$135 million	Reuters
Baloise	insurer	$13 million	Reuters
Banca March	bank	$2.7 million	Cinco Días
Banco Popolare	bank	n/a	MarketWatch
Banesto	bank	n/a	Reuters
Bank Austria	bank	$192.1 million	Der Standard
Bank Medici of Austria	bank	$2.1 billion	Bloomberg
Banque Benedict Hentsch	bank	$47.5 million	firm statement
Barbara Flood	individual	n/a	National Public Radio
BBVA	bank	$404 million	Reuters
Benbassat & Cie	bank	$935 million	Le Temps
Bloomberg Fortis Bank Nederland	bank	$1.35 billion	firm statement
BNP Paribas	bank	$475.3 million	Bloomberg
Bramdean Asset Management	alternatives firm	$31 million	WSJ
Caisse des dépôts et consignations	government-owned bank	$1.38 million	Bloomberg
Caja Madrid	bank	$3.1 million	Cinco Días
Carl and Ruth Shapiro	individuals	$400 million	WSJ
Carl and Ruth Shapiro Family Foundation	charity	$145 million	Boston Globe
Chair Family Foundation	charity	n/a	FINalternatives
Chais Family Foundation	charity	$7 million	WSJ
Clal Insurance	insurer	$778,800	firm statement
Congregation Kehilath Jeshurun (New York)	synagogue	$3.5 million	Bloomberg
Credit Mutuel	bank	$124 million	Bloomberg
David Berger	individual	$5 million	FINalternatives
Dexia	bank	$106.9 million	firm statement
Dorset County Pension Fund	pension	$3.5 million	LocalGov.co.uk
Ed Blumenfeld (Long Island real estate developer)	individual	n/a	Long Island Business News
EIM Group	bank	$230 million	Le Temps
Engelbardt family	family office	n/a	Variety
Eric Roth (screenwriter)	individual	n/a	Los Angeles Times
Erste Bank	bank	n/a	Der Standard
Fair Food Foundation	charity	n/a	Crain's Detroit Business
Fairfield Sentry (Fairfield Greenwich Group)	(Madoff feeder fund) alternatives firm	$7.5 billion	firm statement
family of former New York Gov. Eliot Spitzer	individuals	n/a	Clusterstock.com
family of Sarah Chew	family office	$30 million	Time
FIM Ltd. (Kingate funds manager)	money manager	$3.5 billion	media reports
Fix Asset Management	alternatives firm	$400 million	firm statement
Foundation for Humanity (Elie Wiesel's charity)	charity	n/a	WSJ
Global Specialised Opportunities 1 Bermuda-listed	fund	$2.8 million	fund statement
Great Eastern Holdings	bank	$43.9 million	Reuters
Groupama	insurer	$13.6 million	firm statement
Grupo Santander	bank	$3.5 billion	El Pais
Gutmann	bank	n/a	Citywire
Hadassah	charity	$90 million	JTA
Hampshire County Council	pension	$10.7 million	IPE
Harel Insurance Investments and Financial Services	insurer	$14.2 million	firm statement
Harold Roitenberg	individual	$1 million	Minneapolis Star-Tribune
HSBC	bank	$1 billion	firm statement
Hyposwiss	bank	$50 million	Reuters
INTAC Global Preservation Hedge Portfolio (via Rye Investment Management)	fund of hedge funds	n/a	fund documents
Ira Rennert	individual	$200 million	FINalternatives
Ira Roth	individual	$1 million	WSJ
Irwin Kellner (named plaintiff on first lawsuit against Madoff)	individual	$6 million	Lawsuit
J.P. Jeanneret Associates	investment adviser	$946 million	Syracuse Post-Standard
Jeff Tucker (Stone Bridge horse farm owner, Fairfield Greenwich Group founding partner)	individual	n/a	WNYT television
JEHT Foundation	charity	n/a	Statement
Jerome Fisher (Nine West founder)	individual	$150 million	media reports
Jewish Federation of Greater Los Angeles	charity	$6.4 million	media reports
Joyce Z. Greenberg	individuals	n/a	Houston Chronicle
Julian J. Levitt Foundation	charity	$6 million	WSJ
Kas Bank	bank	$12.3 million	firm statement
KBC	bank	n/a	firm statement
Kenneth and Jeanne Levy-Church (donors to Fair Food and JEHT foundations)	individuals	n/a	Jewish Journal
Kevin Bacon and Kyra Sedgwick (actors)	individuals	n/a	New York magazine
Kingate Management (Madoff feeder fund)	alternatives firm	$2.8 billion	Bloomerg
Knowsley MBC	pension	n/a	LocalGov.co.uk
Korea Life Insurance Co.	insurer	$50 million	Yonhap News
Korea Teachers Pension	pension	$9.1 million	Statement
KSM Capital Advisors	investment firm	$15 million	Indianapolis Business Journal
Last Atlantis Capital Managament	fund of hedge funds	n/a	fund documents
Lautenberg Family Foundation	charity	$12.8 million	media reports
Lawrence Velvel (dean, Massachusetts Law School)	individual	n/a	WSJ
Leonard Feinstein (Bed Bath & Beyond co-founder)	individual	n/a	Newark Star-Ledger
Leonard Litwin	individual	n/a	Bloomberg
Liverpool City Council	pension	n/a	LocalGov.co.uk
LLBW	bank	n/a	Citywire
Loeb family	family office	n/a	CNBC
Los Angeles Jewish Community Foundation	charity	$18 million	Jewish Journal
M&B Capital Partners	money manager	$187.9 million	El Mundo
Madoff Family Foundation	charity	$19 million	WSJ
Maimonides School (Boston)	school	$5 million	Bloomberg
Massachusetts Pension Reserves Investment Management	pension	$12 million	Reuters
Maxam Capital Management (Madoff feeder fund)	fund of hedge funds	$280 million	WSJ
Mediobanca	bank	$671,000	firm statement
Members of the Hillcrest Country Club (St. Paul, Minn.)	individuals	n/a	Star-Tribune
members of the Oak Ridge Country Club (Hopkins, Minn.)	individuals	n/a	Star-Tribune
Merseyside Pension Fund	pension	$3 million	media reports
Michael Roth	individual	$7.5 million	FINalternatives
Mirabaud & Cie	bank	n/a	Le Temps
Mitsubishi UFJ FInancial Group	financial institution	$11 million	Bloomberg
MorseLife	charity	n/a	Palm Beach Post
Mortimer B. Zuckerman Charitable Remainder Trust (New York Daily News owner's charity)	charity	$30 million	CNBC
Natixis	bank	$600 million	Bloomberg
Neue Privat Bank	bank	$5 million	Bloomberg
New York Law School	law school	$3 million	Lawsuit
Nomura	bank	n/a	WSJ
Nordea	bank	$65 million	Reuters
Normal Holdings	.	$302 million	StreetInsider.com
Norman Braman (former Philadelphia Eagles owner)	individual	n/a	WSJ
North Shore-Long Island Jewish Health System	pension fund	$5 million	statement
Notz, Stucki & Cie	bank	n/a	Le Temps
Optimal Investment Services (Grupo Santander)	alternatives firm	n/a	Bloomerg
Palm Beach Country Club	country club	n/a	CNBC
Pioneer Alternative Investments	alternatives firm	$280 million	Bloomberg
RAB Capital hedge	fund	$10 million	Reuters
Reichmuth Matterhorn	bank	$330 million	Bloomberg
Richard Roth	individual	$10 million	FINalternatives
Richard Spring	individual	$11 million	WSJ
RMF (Man Group)	alternatives firm	$360 million	firm statement
Robert and Sarah Chew	individual	$1.2 million	Time
Robert I. Lappin Charitable Foundation	charity	$8 million	Washington Post
Roger Peskin	individual	$3 million	AP
Royal Bank of Canada	bank	$40.4 million	Globe and Mail
Royal Bank of Scotland	bank	$600 million	published reports
Royal Dutch Shell	pension	$45 million	Reuters
Rye Investment Management (Tremont Group) (Madoff feeder fund)	hedge fund	$3.1 billion	Bloomerg News
SAR Academy (New York)	school	$1.2 million	Bloomberg News
Sefton MBC	pension	n/a	LocalGov.co.uk
SNL Reaal Groep	financial services firm	n/a	Bloomberg
Societe General	financial institution	less than $13.5 million	Reuters
St. Helens MBC	pension	n/a	LocalGov.co.uk
Stephen Fine	individual	n/a	Reuters
Sterling Equities	investment firm	$500 million	New York Post
Steven Abbott	individual less than	$1 million	WSJ
Stony Brook University Foundation	university endowment	$5.4 million	Bloomberg
Sumitomo Life Insurance Co.	insurer	$22 million	Bloomberg
Swiss Reinsurance Co.	reinsurer	less than $3 million	firm statement
Symphony Fund (via Pioneer Alternative Investments)	fund of hedge funds	n/a	fund documents
Technion-Israel Institute of Technology	university	$6.4 million	Globes
The Moriah Fund	charity	n/a	FINalternatives
The Phoenix Holdings	insurer	$15 million	firm statement
The Ramaz School	school	$6 million	FINalternatives
Thema (Madoff feeder fund)	hedge fund	n/a	media reports
Thyssen family	family office	n/a	Clusterstock.com
Town of Fairfield, Conn.	pension fund	$42 million	Associated Press
Tremont Capital Management (Tremont Group)	fund of hedge funds	$190 million	firm statement
UBS	bank	n/a	Reuters
UniCredit	financial firm	$100 million	Bloomberg
Union Bancaire Privee	bank	$846 million	Le Temps
Unione di Banche Italiane	bank	$84.9 million	Bloomberg
United Jewish Endowment Fund	charity	less than $10 million	JTA
Victor Schlesinger	Trust	$61 Million	WSJ
Victor Schlesinger, Brooklyn NY T	Trust	$61 Million	WSJ
Vincent Tchenguiz	individual	$6.3 million	FINalternatives
Wilpon family (New York Mets owner)	family office	n/a	WSJ
Wolosoff Foundation	charity	$38 million	FINalternatives
Wunderkinder Foundation (Steven Spielberg's charity)	charity	n/a	WSJ
Yeshiva University	university endowment	$140 million	Bloomberg

[dennisw]

Bob Dole used to carry a pocket Constitution and whip it out and point to the Tenth. My guess is that in his early years he really meant it but later on it became a rhetorical flourish because he was a big Federal Government guy though not as bad as others. He voted for tons of bills that usurped the rightful domain of the states and counties

[TenthAmendmentChampion]

Here are the steps I used to make this table:

Copied the blob into Word.

Looked for patterns of repetition to make sense of the information.

Saw the dollar signs, did a search and replace for those from “$” to “^t$”

Put a hard return after each incidence of the phrase “illion” by searching for it and replacing with “illion ^p”

Manually entered tab symbols after each name and fund type

Created the table by converting it in the Table/Convert dialog box.

Did quite a bit of drag and drop due to the way the data was formatted. I did miss one source, the very first line was credited to Bloomberg which is down on the line for Fortis. I fixed that after posting, of course.

Sorted the table on the first field.

Saved as HTML.

Opened the file in a browser.

Used View/Source to see the HTML formatting, copied that and pasted it into the posting box. Preview seemed ok, so posted it here.

Found one discrepancy, of course. :P

[devane617]

Thank You. Makes it easier to look for my name. (just kidding...)

[dennisw]

Very interesting ....thanks much
I will try that on 1/4 of the blob

Is there such thing as a source in Word documents?
Like there is HTML source for simple web pages

[TenthAmendmentChampion]

No, you can “reveal codes” in Word, but you can’t really save as a marked up file or view the source. More’s the pity. I read a fix one time for corruption in Word documents, and the article said to save as a Web page and the open the web page for editing to eliminate the section breaks, because that is often where corruption occurs. Nice, huh?

I use FrameMaker professionally, and you can save an fm document as a mif file and read the source code there.