Tag Archives: yom kippur

The Victims List: Why Bernie Madoff Is The Only Crook Who Went To Gaol

13 Sep

In case you didn’t know, today is not only Friday the 13th, an “unlucky” day in Western superstition.

It is also Yom Kippur. Otherwise known as the “Day of Atonement”.

A day of “love and forgiveness”, and “The day on which G-d forgives for the less desirable actions of His nation”, according to the Jerusalem Post.

Which is both an ironic, and an apropos theme to carefully consider, in the light of today’s post.

Ever wonder why Bernie Madoff so famously and publicly went to gaol for his ponzi crimes, when no other banker or “investment adviser” did?

Take a slow, careful, thoughtful look at the list of his victims below.

See anything in those names that strikes you?

From the Wall Street Journal, March 6 2009:

Description
Fairfield Greenwich Advisors
An investment management firm
$7,500,000,000
Tremont Group Holdings
Asset management firm
$3,300,000,000
Banco Santander
Spanish bank
$2,870,000,000
Bank Medici
Austrian bank
$2,100,000,000
Ascot Partners
A hedge fund founded by billionaire investor, philanthropist and GMAC chief J. Ezra Merkin
$1,800,000,000
Access International Advisors
A New York-based investment firm
$1,500,000,000
Fortis
Dutch bank
$1,350,000,000
Union Bancaire Privee
Swiss bank
$700,000,000
HSBC
British bank
$1,000,000,000
Natixis SA
A French investment bank
$554,400,000
Carl Shapiro
The founder and former chairman of apparel company Kay Windsor Inc., and his wife
$500,000,000
Royal Bank of Scotland Group PLC
British bank
$492,760,000
BNP Paribas
French bank
$431,170,000
BBVA
Spanish bank
$369,570,000
Man Group PLC
A U.K. hedge fund
$360,000,000
Reichmuth & Co.
A Swiss private bank
$327,000,000
Nomura Holdings
Japanese brokerage firm
$358,900,000
Maxam Capital Management
A fund of funds based in Darien, Connecticut
$280,000,000
EIM SA
A European investment manager with about $11 billion in assets
$230,000,000
AXA SA
French insurance giant
N/A
UniCredit SpA
Italian Bank
$92,390,000
Nordea Bank AB
Swedish Bank
$59,130,000
Hyposwiss
A Swiss private bank owned by St. Galler Kantonalbank
$50,000,000
Banque Benedict Hentsch & Cie. SA
A Swiss-based private bank
$48,800,000
Fairfield, Conn.
town pension fund
$42,000,000
Bramdean Alternatives
An asset manager
$31,200,000
Jewish Community Foundation of Los Angeles
The largest manager of charitable gift assets for Los Angeles Jewish philanthropists
$18,000,000
Harel Insurance Investments & Financial Services Ltd.
Israel-based insurance firm
$14,200,000
Baloise Holding AG
Swiss insurer
$13,000,000
Societe Generale
French Bank
$12,320,000
Groupama SA
French insurer
$12,320,000
Credit Agricole SA
French bank
$12,320,000
Richard Spring
individual investor
$11,000,000
RAB Capital
hedge fund
$10,000,000
Banco Popolare
Italian bank
$9,860,000
Korea Teachers Pension
A 10 trillion won Korean pension fund
$9,100,000
Swiss Life Holding
Swiss insurer
$78,900,000
North Shore-Long Island Jewish Health System
health system
$5,700,000
Neue Privat Bank
Swiss bank
$5,000,000
Clal Insurance Enterprise Holdings
An Israel-based financial services company
$3,100,000
Ira Roth
individual investor
$1,000,000
Mediobanca SpA
via its subsidiary Compagnie Monegasque de Banque.
$671,000
Fred Wilpon
owner of New York Mets
N/A
Steven Spielberg
The Spielberg charity — the Wunderkinder Foundation
N/A
JEHT Foundation
A New York foundation focused on electoral and criminal justice reform
N/A
Mortimer B. Zuckerman Charitable Remainder Trust
The charitable trust of real-estate magnate, who owns the Daily News and U.S. News & World Report
N/A
Robert I. Lappin Charitable Foundation
A Massachusetts-based Jewish charity
N/A
Chais Family Foundation
A charity that gave to Jewish causes
N/A
KBC Group NV
Belgian banking and insurance group
N/A
Barclays PLC
British bank
N/A
Dexia
French bank
N/A
Allianz Global Investors
The asset management unit of German insurer Allianz SE
N/A
Banco Espanol de Credito SA (Banesto)
A Spanish bank contolled by Banco Santander
N/A
CNP Assurances
French insurer
N/A
UBS AG
Swiss bank
N/A
Yeshiva University
A New York-based private university
$14,500,000
The Elie Wiesel Foundation for Humanity
The charitable foundation of Nobel laureate
$15,200,000
Leonard Feinstein
The co-founder of retailer Bed Bath & Beyond
N/A
Sen. Frank Lautenberg
The charitable foundation of the New Jersey Senator’s family
N/A
Norman Braman
former owner of Philadelphia Eagles
N/A
Jeffrey Katzenberg
The chief executive of DreamWorks Animation SKG Inc.
N/A
Gerald Breslauer
The Hollywood financial advisor to Steven Spielberg and Jeffrey Katzenberg
N/A
Kingate Management
hedge fund
N/A
Julian J. Levitt Foundation
Texas-based charity
N/A
Loeb family
N/A
N/A
Lawrence Velvel
individual investor
N/A
Fix Asset Management.
hedge fund
N/A
Genevalor, Benbassat & Cie.
money manager in Geneva
N/A
Banco Espirito Santo
Portugese bank
$21,400,000
Great Eastern Holding
Singapore insurer
$44,266,000
M&B Capital Advisers
Spanish brokerage
$52,800,000
Oddo et Cie
French financial services firm
$36,957,000
Royal Dutch Shell pension fund
Global energy and petrochemical company
N/A
Phoenix Holdings
Israeli financial services company
$12,600,000
Credicorp
Peruvian financial services company
$4,500,000
Fukoku Mutual Life Co.
Japanese insurer
N/A
New York Law School
law school in New York City
$300,000
Nipponkoa Insurance
Japanese insurer
N/A
Sumitomo Life Insurance Co.
Japanese insurer
$22,000,000
Swiss Reinsurance Co.
Swiss insurer
$3,000,000
Aozora Bank Ltd
Japanese lender
$137,000,000
UBI Banca
Italian bank
$86,000,000
Taiyo Life Insurance Co.
Japanese insurer
$221,000
Caisse d’Epargne
French bank
$11,100,000
J. Gurwin Foundation
Charity
N/A
EFG International
Swiss private bank
N/A
Fire and Police Pension Association of Colorado
Pension fund
N/A
International Olympic Committee
Olympic organizer
$4,800,000
Support Organization for the Madison Cultural Arts District
Wisconsin cultural organization
N/A
Credit Industrial et Commercial
French financial-services group
$125,400,000
Hadassah
U.S. women’s zionist organization
$90,000,000
United Association Plumbers & Steamfitters Local 267 in Syracuse
Local union pension and health care funds
N/A
Ramaz School
A Jewish school in New York
$6,000,000
Congregation Kehilath Jeshurun
A synagogue in New York
$3,500,000
The Maimonides School
A Jewish day school in Brookline, Mass.
$3,000,000
Yad Sarah
An Israeli nonprofit
$1,500,000
Kevin Bacon and wife Kyra Sedgwick
Hollywood actors
N/A
Eric Roth
Hollywood screenwriter
N/A
Henry Kaufman
Individual investor, former Salomon Brothers chief economist
N/A
New York University
University
$24,000,000
Aioi Insurance Co.
Japanese insurer
$1,100,000
Meiji Yasuda Life Insurance Co.
Japanese insurer
$1,100,000
Mitsui Sumitomo Insurance Co.
Japanese insurer
$8,800,000
Burt Ross
former mayor of a town in New Jersey
$5,000,000
Genium Advisors
Swiss money manager
$281,400
Sterling Stamos Capital Management LP
Investment firm with offices in New York City and Menlo Park, Calif.
N/A
Gabriel Partners
Money-management firm run by GMAC Chairman Ezra Merkin.
N/A
The Diocese of St. Thomas
Catholic church in the U.S. Virgin Islands
$2,000,000
Phyllis Molchatsky
individual investor
$17,000,000
Members of the Hillcrest Golf Club of St. Paul, Minn. and Oak Ridge Country Club in Hopkins, Minn.
country clubs
N/A
Bard College
University in New York
$3,000,000
Martin Rosenman
New York City-based heating oil distributor
$10,000,000
Marc Rich
Fugitive financier
N/A
Zsa Zsa Gabor
Actress
$10,000,000
Hadleigh Holdings LLC
Miami firm owned by businessman Stanley Kriegler
$1,000,000
Argus Group Holdings
Bermuda insurance and financial services company
N/A
Auriga International Advisors Ltd.
British Virgin Islands hedge fund
$348,400,000
Repex Ventures SA
British Virgin Islands firm
$700,000
SAR Academy
A Yeshiva school in New York
N/A
Picower Foundation
Florida-based philanthropy
N/A
John Malkovich
actor
N/A
Sandy Koufax
Former Los Angeles Dodger pitcher
N/A
Tim Teufel
Former baseball player
N/A
Larry King
Talk-show host
N/A
Phyllis George
Former Miss America
N/A
Mark Green
Former NYC public advocate
N/A
Larry Silverstein
New York developer who is currently working with partners to rebuild the World Trade Center
N/A
Scott Rechler
CEO of RXR Corp.; Former CEO of Reckson Associates
N/A
Sources: WSJ reporting; Associated Press; the companies and charities

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