Charles Ponzi

Nick Leeson:
Jag återvände från Singapore 1999 och fick ändå inom loppet av en vecka erbjudande om fem olika kreditkort

Long Term Capital Management
aided by a pair of Nobel laureates

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"Basically, a giant Ponzi scheme"


"Basically, a giant Ponzi scheme"
Fraud which has lost $50bn
Bernard Madoff has been charged. Among the banks which have been hit are Britain's HSBC and RBS, Spain's Santander and France's BNP Paribas
BBC, CNBC 15/12 2008

Among the largest potential losers so far is Spain's largest bank, Santander, which also owns the UK High Street banks Abbey, Alliance & Leicester and Bradford & Bingley.
One of its funds had $3.1bn invested in the firm run by Bernard Madoff

Madoff said he was "finished", that he had "absolutely nothing" and "it's all just one big lie", and that it was "basically, a giant Ponzi scheme"

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Madoff Victims: Big Banks, Hedge Funds, Celebrities
TOPICS:Economy (U.S.) | Economy (Global) | Hedge Funds | SEC | Nasdaq | Wall Street | Corporate Fraud | Crime
CNBC 15 Dec 2008

The alleged victims who sunk cash into veteran Wall Street money manager Bernard Madoff's investment pool include real estate magnate Mortimer Zuckerman, the foundation of Nobel laureate Elie Wiesel, and a charity of movie director Steven Spielberg, according to the Wall Street Journal.
Among the world's biggest banking institutions, Britain's HSBC Holdings, Royal Bank of Scotland Groupand Man Group, Spain's Grupo Santander, France's BNP Paribas and Japan's Nomura Holdings all reported that they had fallen victim to Madoff's alleged $50 billion Ponzi scheme.
The 70-year-old Madoff, well respected in the investment community after serving as chairman of the Nasdaq Stock Market, was arrested Thursday in what prosecutors say was a $50 billion scheme to defraud investors.

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Santander, the euro zone's largest bank by market value, said its clients had an exposure of €2.33 billion ($3.1 billion) to Mr. Madoff's investment funds
Wall Street Journal DECEMBER 15, 2008

Mainly through its Optimal Strategic US Equity fund. More than €2 billion belongs to institutional investors and international clients of its private-banking business, which provides services to wealthy individuals, it said. The remaining €320 million belongs to private-banking customers in Spain, where Santander is based.