Tuesday, December 16, 2008

Bernard "Bernie" Madoff Ponzi Scheme Victims (Including Estimated Victim Losses)

Below is an initial list of victims of the Bernard “Bernie” Madoff Ponzi scheme orchestrated at Bernard L. Madoff Investment Securities LLC. Initial list adapted from Wikipedia article and expanded to show a total of $32.7 billion in estimated losses. Individual losses noted before each item listed below. Variance may exist due to round off error and currency exchange rates used in calculations at time of posting.

Feel free to link to this post. It will be updated periodically as additional information comes forward.

(7.5 B) Fairfield Sentry Ltd, a hedge fund run by Walter Noel's Fairfield Greenwich Group (Note 1).

(3.5 B) Kingate Global Fund Ltd, a hedge fund run by Kingate Management Ltd (Note 1).

(3.3 B) Tremont Capital Management (Note 2)

(3.21 B) Banco Santander, ticker STD, (through its “Optimal Fund”) Note 1.

(1.8 B) Ascot Partners hedge fund. Source: Diana Henriques and Alex Berenson at NY Times

(~1.8 B or slightly less) J. Ezra Merkin, chairman of GMAC, and founder of Ascot Partners hedge fund (Note 1).

(1.4 B) Access International Advisors LLC and clients (through its "American Selection" fund, traded as "LUXALPHA SICAV"). Source: Saijel Kishan at Bloomberg. Also, the fund manager, Rene-Thierry Magon de la Villehuchet, was found dead this Tuesday after an apparent suicide (Chicago Tribune source).

(1.4 B) Fortis Bank Netherlands (Note 2).

(1.08 B) Union Bancaire Privee and clients. Source: Reuters

(~1 B or less) HSBC, ticker HBC (Note 1).

(0.935 B) Benbassat & Cie, Swiss private bank. Source: Daily Intel

(0.633 B) Natixis and clients. Source: Guerrera, Sender at Financial Times

(0.624 B) Royal Bank of Scotland, ticker RBS (Note 1).

(0.484 B) BNP Paribas (Note 1).

(0.042 B) Fairfield Connecticut public employees pension fund. Source: Hartford Courant

(0.41 B) BBVA, Spain’s second-largest bank (Note 1).

(0.4 B) Fix Asset Management (Note 1).

(0.36 B) Man Group and clients (Note 1).

(0.33 B) Reichmuth and Co’s Reichmuth Matterhorn fund (Note 1).

(0.302 B) Nomura Holdings and clients (Note 1).

(0.28 B) Maxam Capital Management (including Maxam Absolute Return Fund), run by Sandra Manzke; Manzke has stated that Maxam has been "wiped out" and will close as a result of the losses (Note 1).

(0.28 B) Pioneer Alternative Investments (Note 1).

(0.23 B) EIM Group (Note 1).

(3.3 B) Tremont Capital Management (Note 2)

(0.188 B) M&B Capital Partners. Source: Westbrook & Kishan at Bloomberg

(0.145 B) Carl Shapiro’s charitable foundation (Note 1).

(0.14 B) Axa (Note 1).

(0.137 B) Aozora Bank. Source: Reuters

(0.104 B) Unicredit. Source: Catan & Bryan-Low of WSJ

(0.1 B to 0.11 B) Yeshiva University. Source: Strom at NYT

(0.107 B) Dexia SA (Note 2).

(0.066 B) Nordea Bank AB (Note 2).

(0.05 B) Banque Bénédict Hentsch and clients (Note 1).

(0.05 B) Korea Life Insurance (Note 1).

(0.005 B) North Shore-Long Island Jewis Health System (Note 1).

(0.04 B) Royal Bank of Canada, ticker RY (Note 2).

(0.03 B) Mortimer Zuckerman Charity(Note 2).

(0.029 B) Avram and Carol Goldberg, former owners of the Stop & Shop supermarket chain. Source: Daily Intel

(0.021 B) Bramdean Alternatives hedge fund run by Nicola Horlick of London. Source: Ian King of The Times

(0.019 B) Madoff Family Foundation (Note 1).

(0.018 B) Jewish Community Foundation of Los Angeles. Source: Daily Intel

(0.014 B) Groupama (Note 2).

(0.014 B) Harel Insurance Investments and Financial Services (Note 1).

(~0.014 B, or less) Societe Generale (Note 1).

(0.012 B) Massachusetts state pension. Source: Healy & Syre at Boston Globe

(0.012 B) Phoenix Holdings (Note 2).

(0.011 B) Banco Popolare. Source: Catan & Bryan-Low of WSJ

(0.011 B) Richard Spring of Boca Raton, FL. Source: Urbina at NYT

(0.01 B) Jewish Federation of Greater Washington. Source: Strom at NYT

(0.009 B) Korea Teachers' Pension (Note 1).

(0.008 B) Robert I. Lappin Charitable Foundation (Salem, Massachusetts) Charity founded by New Jersey Senator Frank Lautenberg (Note 1).

(0.007 B) Technion (Note 2).

(0.006 B) Julian J. Levitt Foundation, Texas (Note 1).

(0.006 B) The Ramaz School. Source: Strom at NYT

(~ 0.005 B, or less) NPB Neue Privat Bank (Zurich) and clients (Note 1).

(0.004 B) The SAR Academy, a Jewish School. Source: Strom at NYT

(0.004) CNP Assurances (Note 2).

(0.001 B) Clal Insurance (Note 2).

(~ 0.001 B) Mediobanca (Note 2).

TOTAL: $32.698 B

** Below is a listing of others mentioned online or on TV to have losses but without losses disclosed. Inclusion of some individuals below in the above total should be carefully done since in some cases the losses may be from "client" interests in one of the above.**

(1.) The Chais Family Foundation, Encino, CA.

(2.) Elise Wiesal Foundation for Humanity, losses unconfirmed

(3.) Joyce Greenberg and family, losses in multi-millions. Source: CNBC, 16 Dec

(4.) Notz, Stucki & Cie – undetermined (Note 1).

(5.) Lombard Odier Darier Hentsch & Cie

(6.) Palm Beach Country Club

(7.) Sterling Equities, Inc. led by New York Mets co-owner Fred Wilpon

(8.) Judy and Fred Wilpon Family Foundation

(9.) Stephen Spielberg’s charity, the Wunderkinder Foundation

(10.) Stephen Abbott (San Francisco lawyer) and family, hundreds of thousands. Source: Ross at San Francisco Chronicle

(11.) Norman Braman, former owner of the Philadelphia Eagles football team

(12.) Englebardt family of Los Angeles and elsewhere

(13.) Leonard Feinstein, co-founder of Bed Bath & Beyond Inc.

(14.) Stephen A. Fine, president of Biltrite Corp.

(15.) Jerome Fisher, founder of Nine West

(16.) Helfman family of Miami and elsewhere

(17.) Robert Jaffe and family (see also father-in-law Carl & Ruth Shapiro) of Palm Beach and elsewhere

(18.) Saul Katz, co-owner of the New York Mets

(19.) Irwin Kellner, chief economist for Marketwatch.com, of Port Washington, N.Y.

(20.) Susan Leavitt of Tampa Bay, Florida

(21.) Loeb family

(22.) Ira Rennert (billionaire), mentioned by Vicky Ward of Vanity Fair on CNBC on December 12, 2008 as being "heavily, heavily invested" with Madoff Ira Roth and family of New Jersey

(23.) Vincent Tchenguiz, UK real estate investor

(24.) Thyssen Family (including Thybo International fund)

(25.) Lawrence Velvel, dean of the Massachusetts School of Law

(26.) JEHTFoundation

(27.) Leonard Litwin

(28.) Mirabaud & Cie

(29.) Swiss bank Syz SA

(30.) Frontbridge

(31.) Lombard Odier

(32.) Gabriel Capital Partners' Ascot Fund Ltd.

Note 1: Jamie Dunkley at Telegraph.co.uk
Note 2: Westbrook & Kishan at Bloomberg

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