As Madoff admitted his firm was “just one big lie” and “basically a giant
Ponzi scheme”, SEC chairman Christopher Cox launched an investigation into why
the agency did not act on warnings about Madoff’s activities as early as 1999,
which could now cost his investors around $50bn.
Nicola Horlick vehicle Bramdean revealed that 0.15% of its funds under
management were with Madoff’s firm and that two of its holding companies have
trading accounts with Madoff’s firm, representing around 9.5% of its net asset
value at 31 October 2008.
Bramdean quietly removed its website blurb about “robust and thorough due
diligence” being “at the heart” of its investment strategy.
Stephen Spielberg’s charity, Wunderkinder, is another victim of the fraud.
Join Financial Director, Oracle and a host of ‘Fast Data’ experts to discover how financial professionals can help create a Fast Data business
Reinmoeller, professor of strategic management at Cranfield School of Management, has proposed an Eight Actions Model to help organisations increase margin and perform ahead of market expectations
When thinking about Iran as a potential market it’s important to go in with open eyes. This means being aware of some of the myths as well as being clear on the challenges
Third of UK companies with defined benefit pensions schemes are paying out more from their scheme in pensions than is being received in contributions