Madoff Feeder Funds: Aggrieved Victims or Conspirators?
January 10, 2009
Are these feeder funds like the Ariel Fund, aggrieved victims, conspirators or just professionally negligent and/or incompetent in losing their clients’ money in Madoff’s scheme? Many pocketed hefty fees to fund lifestyles. Bernard L. Madoff was arrested on December 11, 2008 and charged with federal securities laws violations. His highly sophisticated and massive fraud is considered to be the largest in history.
“The complicated relationships between Bernard L. Madoff Investment Securities, its feeder funds, and those funds’ investors are already creating a complicated tangle of lawsuits, with investors suing both Madoff and the feeder funds, while the feeder funds themselves [. . .] consider their own legal options (FINalternatives 2009-01-08).”
Madoff Feeder Funds: FIM Kingate funds, London, UK; Fairfield Greenwich Group, Conneticut/NY; Ariel Fund,
tags: feeder funds, hedge funds, Madoff, Kingate, Ariel, New York University, white collar crime, regulation, complex financial instruments,
Webliography and Bibliography
Berenson, Alex; Konigsberg, Eric. 2008-12-21. “Firm Built on Madoff Ties Faces Tough Questions.” New York Times.