List of Bernard Madoff Victims Released to The Public
What do Sandy Koufax, John Malkovich, Kevin Bacon, Larry King and New Jersey Senator Frank Lautenberg all have in common?
They all fell victim to Bernard Madoff and his massive "Ponzi scheme", according to recently released documents.
A 162-page document was filed in a U.S. Bankruptcy Court in Manhattan earlier today. This document listed all of the individuals, companies, trusts, estates and charitable organizations that had been invested in Madoff's company in the 12 month period leading up to its collapse.
Names contained in the document included Koufax, King and Malkovich, as well as Fred Wilpon, who is the owner of the New York Mets, and Larry Silverstein, a New York based developer who is currently working to rebuild the World Trade Center.
A number of well-known charities, pension funds and museums were all listed as victims of Madoff's fraud as well.
The list didn't stop there.
A number of people who were close to Madoff also lost money in the scheme, including:
-Mark and Andrew Madoff (Bernard Madoff's sons)
-Jerome Horowitz and David Friehling (outside auditors for Madoff's firm)
-Ira Sorkin (Madoff's lawyer, who vehemently denies that he was an investor in the company)
-Peter Madoff (Bernard Madoff's brother)
Ira Sorkin, as mentioned, found himself on the list as well. Sorkin is currently acting on Madoff's lawyer, and many people have pointed out that this would constitute a conflict of interest.
Sorkin has publicly stated that the "information is incorrect", and that he shouldn't have been included on the list. We'll see..
The list of victims is extremely long - I have included a link to the list below. I believe that there are around 13,000 names contained in the list. Everything from prominent individual investors to trusts to estates to hedge funds to feeder funds.
There is no word as of yet as to exactly how much money will end up being lost in this scheme. The document that was released earlier today did not include any information as to how much each client had invested in the firm.
Bernard Madoff has estimated that approximately $50 billion dollars was lost in the fraud. Approximately $950 million dollars has been recovered so far.
Link: List of Bernard Madoff Investors (*.pdf)
Filed under: Stock Market Scandals