The following entities have announced exposure to Bernard L. Madoff Investment Securities LLC, the New York-based business that allegedly lost $50 billion in a giant pyramid scheme.
Entity: New York University Exposure: $24 million Date of disclosure: Dec. 24 Notes: On Dec. 23, NYU filed a suit in New York state court claiming J. Ezra Merkin turned over his investment responsibilities to Madoff's funds and lost $24 million of the school's money. The suit names as defendants Merkin's Ariel Fund Ltd.; the fund's investment manager, Gabriel Capital Corp.; and Fortis Bank. NYU had invested $94 million in Ariel, a partnership between Merkin and Fortis. Ariel plans to liquidate due to Madoff-related losses. Entity: Elie Wiesel Foundation For Humanity Exposure: $15.3 million Date of disclosure: Dec. 24 Notes: Though Wiesel and his foundation were linked to Madoff losses shortly after the financier's arrest, only this week was the $15.3-million figure confirmed. The foundation, established to combat anti-Semitism, said "substantially all" of its assets were invested with Madoff. Entity: Access International Advisors Exposure: $1.5 billion Date of disclosure: Dec. 24 Notes: The investment-advisory firm's co-founder Thierry Magon de La Villehuchet, 65, was found dead in his Manhattan office Tuesday in an apparent suicide. Access International Advisors oversaw Luxalpha Sicav, a fund with Madoff-run assets. Luxalpha Sicav had been previously run and managed by UBS AG, at which point it also had Madoff exposure. Entity: Tremont Group Holdings Inc. Exposure: $3.3 billion Date of disclosure: Dec. 23 Notes: Tremont is owned by Massachusetts Mutual Life Insurance Co. Tremont said in a letter to investors that it believes it "exercised appropriate due diligence in connection with the Madoff investments." The loss is more than half of all assets overseen by Tremont. Tremont and Mass Mutual were named in a lawsuit Dec. 23. Entity: Yad Sarah Exposure: $1.5 million invested with J. Ezra Merkin Date of disclosure: Dec. 23 Notes: The Israeli nonprofit, with a $21 million budget in 2008, likely won't expand operations or develop any new services or projects in 2009. Entity: Caisse d'Epargne Exposure: Under EUR8 million indirect exposure, excluding investment bank Natixis (12068.FR) Date of disclosure: Dec. 22 Notes: Caisse d'Epargne said EUR1 million was for Caisse Nationale des Caisses d'Epargne, the central hub, and "under EUR7 million" was from its regional level. Natixis reported exposure around EUR450 million on Dec. 15. Entity: UBS AG (UBS) Exposure: Funds-of-funds for clients had Madoff exposure; credit exposure "very insignificant," though UBS did lend to Madoff Date of disclosure: Dec. 22 Notes: UBS declined to comment on press reports that the funds contain $1.4 billion in client assets. Entity: J. Gurwin Foundation Inc. Exposure: $28 million charity invested heavily in Madoff funds Date of disclosure: Dec. 20 Notes: Gurwin said, "We got a body blow. We did not get killed." He has donated to the United Jewish Appeal-Federation of New York, the United States Holocaust Memorial Museum, the American Society for Technion-Israel Institute of Technology and the Gurwin Jewish Nursing & Rehabilitation Center. Entity: Bank Medici AG Exposure: $2.1 billion Date of disclosure: Dec. 19 Notes: Bank Medici is 25% owned by Unicredit SpA (UCG.MI) and 75% owned by chairwoman Sonja Kohn. Hedge funds run by the bank had almost all their money invested with Madoff. Investor redemptions at the Herald funds have been suspended. The bank has also stopped calculating net asset values. Entity: EFG International AG (EFGN.EB) Exposure: "limited" client exposure Date of disclosure: Dec. 19 Notes: EFG clients have $130 million invested in Madoff through third-party funds sold by EFG. In addition, 0.3% of the bank's total invested assets, held in custody, are invested in Madoff. Entity: Fire and Police Pension Association Of Colorado Exposure: Had $60 million invested with Fairfield Greenwich until six months ago Date of disclosure: Dec. 19 Notes: The pension fund has $2.5 billion under management Entity: International Olympic Committee Exposure: $4.8 million Date of disclosure: Dec. 19 Notes: The IOC's exposure represents about 1% of its total investment portfolio. Organizing committee confirmed they will be able to meet their obligations. Entity: Support Organization for the Madison Cultural Arts District Exposure: $18 million invested with Fairfield Greenwich until September Date of disclosure: Dec. 19 Notes: A spokesman for the Overture Center in Madison, Wis., built with SOMCAD funds, said, "Speculation that SOMCAD could be on the hook is not outlandish." Entity: Fairfield Greenwich Group Exposure: About $7.5 billion through Fairfield Sentry fund Date of disclosure: Dec. 18 Notes: Fairfield Greenwich said in a letter posted on its Web site that it is still assessing the extent of potential losses. It initially announced its exposure on Dec. 15. $7.5 billion is slightly more than half of total assets. Investors sued the Fairfield Sentry Fund Dec. 18.

Publié le 26 Décembre 2008 Copyright © 2008 Dowjones