Skip navigation
Madoff Video Gallery
An SEC lawyer who raised concerns about Bernie Madoff in 2004 was reportedly told by superiors to focus her efforts else...
U.S. Marshals seize Bernard Madoff's apartment, reports CNBC's Mary Thompson.
A check on the markets with Yra Harris, of Praxis Trading, and David Kotok, of Cumberland Advisors.

Current DateTime: 10:03:05 04 Jul 2009
LinksList Documentid: 24355697
  • Collection of Michael Jackson

      Earlier this year, Jackson sought to auction his personal items. Although it never came through, here's a look at what was almost sold.

  • Recession-Resistant US Cities

      Some cities have been hit much harder than others during the recession. Here are the metro areas faring the best.

  • How Much For A T-Bone Steak?

      From the cost of a T-bone steak to a monthly phone bill, the price for everyday items can vary dramatically across the country.


Current DateTime: 10:03:05 04 Jul 2009
LinksList Documentid: 24890560
  • Boom, Bust and Blame

      The inside story of the economic crisis that has gripped the entire world.

  • E3: Gaming's Cutting Edge

      North America's premier computer and video game trade show draws tens of thousands of professionals to experience the future of interactive entertainment.

  • The Fall of GM

      A look into the fall of General Motors as the automaker heads toward bankruptcy and an effective nationalization.

Thousands of Claim Forms Sent to Madoff Customers
By: CNBC.com | 05 Jan 2009 | 12:58 PM ET
Text Size

More than 8,000 forms have been mailed to customers of accused swindler Bernard Madoff so they can make claims by March or July for any money they may have lost, the trustee overseeing the liquidation of Madoff's firm said on Monday.

The claims, to be made through the non-profit Securities Investor Protection Corporation (SIPC) and a court-appointed trustee, are just one avenue for investors who believe they were duped in Madoff's purported $50 billion fraud.

Bernard L. Madoff
CNBC.com
Bernard L. Madoff

Some investors have filed lawsuits, many of them against the hedge funds who entrusted money to Bernard L. Madoff Investment Securities. Madoff, a former chairman of the Nasdaq stock market, was arrested and charged on Dec. 11, with securities fraud.

He is under house arrest in his Manhattan apartment.

“Claimants are requested to provide complete information and documentation relating to their claim, including proof of payments made to BLMIS and received from BLMIS, as this may help to expedite the processing of the claim,” said the statement by SIPC, a group established by Congress in 1970 to maintain a reserve fund for investors at failed brokerages.

“The trustee is proceeding as expeditiously as possible to address the claims of all of the customers of BLMIS in a timely manner,” according to the joint statement by SIPC and the court-appointed trustee, lawyer Irving Picard.

Picard has asked a U.S. bankruptcy judge in New York for subpoena powers to gather evidence and interview witnesses. Madoff, 70, is accused in parallel criminal and civil investigations after authorities said he admitted to running a scheme over many years that apparently bilked the wealthy, banks, charities and funds all over the world.

No one else has been charged. The law that created SIPC provides that customers of a failed brokerage firm receive all non-negotiable securities—such as stocks or bonds—that are already registered in their names or in the process of being registered.

Funds from the group's reserve are available to satisfy the remaining claims of each customer up to a maximum of $500,000, including a maximum of $100,000 on claims for cash.

Monday's statement said more than 8,000 customer claim forms were mailed on Jan. 2, with deadlines of March 4 and July 2 for filing them with the trustee.

The notice, claim forms and related information are available on the websites http://www.madofftrustee.com and http://www.sipc.org.

© 2009 CNBC.com
Tools:
Print EmailAdd This share icon


Current DateTime: 01:06:02 04 Jul 2009
LinksList Documentid: 29778428

Current DateTime: 01:01:47 04 Jul 2009
LinksList Documentid: 29779196

Current DateTime: 01:06:02 04 Jul 2009
LinksList Documentid: 29779199

Current DateTime: 01:01:47 04 Jul 2009
LinksList Documentid: 29779198
CNBCCNBC
About CNBC  |  Site Map  |  Privacy Policy  |  Terms of Service  |  Video Reprints  |  Advertise  |  Help  |  Contact
Partners: AOL Money  |  BloggingStocks.com
CNBC is a Division of NBC Universal
  Data is a real-time snapshot *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
Thomson ReutersThomson Reuters