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The List of Losers in the Madoff Case

The New York Times
Monday, 15 Dec 2008 | 10:04 AM ET

The list keeps growing of those who invested with Bernard L. Madoff, the prominent trader who is accused of running a $50 billion Ponzi scheme, and are now exposed to huge losses. DealBook will continue to update the list as further information becomes available.

Previously, DealBook took a look at some of the bigger losers and the growing litigation in the case.

Here is the latest list, compiled by Bloomberg News and other news organizations, showing who lost money, how much was lost and where the loss was disclosed:

  • Access International Advisors, undetermined loss, company statement
  • Ascot Partners, run by Jacob Ezra Merkin, GMAC’s chairman, most of its $1.8 billion in assets, The Wall Street Journal
  • Banco Santander, $3.6 billion, the Spanish newspaper El Pais
  • Banque Benedict Hentsch, $48 million, company statement
  • Benbassat & Cie., $935 million, Reuters, citing the French newspaper Le Temps
  • BNP Paribas, undetermined loss, The Wall Street Journal
  • Bramdean Alternatives, 9.5 percent of assets, company statement
  • The Boston philanthropist Carl Shapiro’s charitable foundation, $145 million, The Boston Globe
  • EIM Group, $230 million, Reuters, citing Le Temps
  • Fairfield Greenwich Group, $7.3 billion, Bloomberg News
  • Fix Asset Management, $400 million, company statement
  • HSBC, $1 billion The Financial Times
  • Julian J. Levitt Foundation, $6 million, The Washington Post
  • Kingate Management, $2.8 billion, Bloomberg News
  • Madoff Family Foundation, $19 million, The Washington Post
  • Maxam Capital Management, $280 million, The Wall Street Journal
  • Mirabaud & Cie, A few million Swiss francs, Reuters, citing Le Temps
  • Neue Privat Bank, $5 million, Bloomberg News
  • Notz, Stucki & Cie, undetermined loss, Reuters, citing Le Temps
  • Nomura Holdings, undetermined loss, The Wall Street Journal
  • Norman Braman, former owners of the Philadelphia Eagles, undetermined loss, The Wall Street Journal
  • North Shore-Long Island Jewish Health System, $5 million, company statement
  • Optimal Investment Services, undetermined loss, Bloomberg News
  • Pioneer Alternative Investments, almost all of its $280 million in assets, Bloomberg News
  • Robert I. Lappin Charitable Foundation, $8 million, The Washington Post
  • Reichmuth Matterhorn fund, $330 million, letter to clients
  • Senator Frank Lautenberg’s charitable foundation, undetermined loss, The Record of Hackensack, N.J.
  • Sterling Equities, run by Fred Wilpson, owner of the New York Mets, undetermined loss, company statement
  • Tremont Capital Management, undetermined loss, The Wall Street Journal
  • Union Bancaire Privee, $850 million, Reuters, citing Le Temps
  • Yeshiva University, undetermined loss, The Washington Post and university statement

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