Law Firm PR News
Today's Legal News Bookmark Web Site
List of potential victims grows in NY fraud case
Legal PR | 2008/12/14 17:01

Investors who put their fortunes in the hands of arrested New York money manager Bernard Madoff are waiting to hear how much of their stake is left.

The roster of potential victims in what prosecutors said was a $50 billion Ponzi scheme has grown exponentially longer in the past few days.

Madoff, 70, said in regulatory filings that he only had around 25 clients, but it has become apparent that the list of people who lost money may number in the hundreds or even thousands.

Among those who have acknowledged potential losses so far: Former Philadelphia Eagles owner Norman Braman, New York Mets owner Fred Wilpon and J. Ezra Merkin, the chairman of GMAC Financial Services.

A charity in Massachusetts that supports Jewish programs, the Robert I. Lappin Charitable Foundation, said it had invested its entire $8 million endowment with Madoff. The organization's executive director said she doesn't expect it to survive.

Other institutions that believed they had lost millions included The North Shore-Long Island Jewish Health System and the Texas-based Julian J. Levitt Foundation.

Hedge funds and other investment groups looked like big losers too. The Fairfield Greenwich Group said it had some $7.5 billion in investments linked to Madoff. A private Swiss bank, Banque Benedict Hentsch Fairfield Partners SA, said it had $47.5 million worth of client assets at risk.



[PREV] [1] ..[2176][2177][2178][2179][2180][2181][2182][2183][2184].. [2460] [NEXT]
   Law Firm PR News Menu
All
Legal Focuses
Legal PR
Attorney News
Court Line
Court Watch
Legal News
Law Firm Topics
   Law Firm & Attorney Directory
Law Firm PR News provides the most current career information of legal professionals and is the top source for law firms and attorneys.
   Recent Entries
Trump faces prospect of addi..
Retrial of Harvey Weinstein ..
Starbucks appears likely to ..
Supreme Court will weigh ban..
Judge in Trump case orders m..
Court makes it easier to sue..
Biden is seeking higher tari..
Elon Musk will be investigat..
Retired Supreme Court Justic..
The Man Charged in an Illino..
Texas’ migrant arrest law w..
Former Georgia insurance com..
A Supreme Court ruling in a ..
Court upholds mandatory pris..
Trump wants N.Y. hush money ..
   Lawyer & Law Firm Directory
Raleigh, NC Business Lawyer
www.rothlawgroup.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
Chicago Work Accident Lawyer
Chicago Workplace Injury Attorneys
www.krol-law.com
Divorce Lawyer & Family Law Attorney
Divorce lawyer rockville
familylawyersmd.com
Oregon DUI Law Attorney
Eugene DUI Lawyer. Criminal Defense Law
www.mjmlawoffice.com
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
Family Law in East Greenwich, RI
Divorce Lawyer - Erica S. Janton
www.jantonfamilylaw.com/about
San Francisco Trademark Lawyer
San Francisco Copyright Lawyer
www.onulawfirm.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
 
©Marking Agency For Law Firms Law Firm News Media. All rights reserved.

The content contained on the web site has been prepared by Law Firm News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. Affordable Law Firm Website Design