Madoff Investors List Made Public In 163-Page Filing Made In U.s. Bankruptcy Court
The Madoff investors list has been made public as a U.S. Bankruptcy court gets closer to hearing the case. The Madoff clients list was compiled by AlixPartners, a Texas firm that was hired by a court-appointed trustee to handle the liquidation of Madoff’s financial operation. The now published list is a 163-page document that reveals every person and corporation that did business with Bernie Madoff, and reveals just how many people lost money in the scam her was allegedly running.
The list of investors is extremely extensive, and takes up a ton of space as the firm tries to recoup some of the financial losses that have reportedly resulted from Bernard Madoff’s firm. There are different estimates going around, but the Huffington Post reports sources that have said it nears $50 billion in total money that has been allegedly mis-managed, and reportedly involves taking money from not only some of the most recognizable names in show-business, but also everyday investors who had been convinced that this would be a good investment.
The pickle at the center of this, is that Madoff is being accused of running a Ponzi diagram, which at its simplest explanation is where people invest, and then when more people invest, unique investors are paid with that money. In the worst types of “Ponzi schemes” money coming in from recent investors pays off older investors, but no money is actually being made in the process. What this does is give some benefits to novel investors, but the newer investors will never see a dime in a scam like this. It is alleged that Madoff and his firm has been behind one of the biggest Ponzi schemes ever.
It’s such a shame that something like this could happen in today’s society, and it would be a miracle if all of the investors in this case were able to get back the funds they put into Madoff’s firm. As court proceedings progress, it will be learned just how distinguished each of the investors contributed, and whether or not the liquidation of all Madoff’s assets will prove enough to give back a substantial amount. According to the list of investors that put money towards Madoff and his company, baseball player Sandy Koufax, the New York Mets owner, Kevin Bacon, and the CEO of DreamWorks (Jeffrey Katzenberg) are impartial some of the people who may have lost a fortune.
Sources: Madoff Investors List
Related Posts
Filed under Partnership Bankruptcy by on Jan 15th, 2012. 
Leave a Comment