Tremont Group Funds had $3.3 Billion with Madoff

***12/19/08 Update–Was Made-off Legit As Late As 2001?-Questions on Tremont

***Update 12-16-08: From Bloomberg: Tremont Invested More Than Half Its Assets With Bernard Madoff 

Tremont Group Funds (owned by OppenheimerFunds) Invested $3.3 Billion With Madoff.

From Bloomberg:

Tremont’s Rye Investment Management unit had $3.1 billion, virtually all of its assets, invested with Madoff, said the person, who declined to be identified because the information is private. 


Also from Bloomberg (list of investors & amounts): Madoff’s Investors Had More Than $34 Billion: Table

For info on what’s happening with the leftovers of Madoff’s business:

On December 15, 2008, the Honorable Louis L. Stanton, a Federal Judge in the United States District Court for the Southern District of New York, appointed Irving Picard as Trustee for the liquidation of Bernard L. Madoff Investments Securities LLC (“BMIS”) pursuant to the Securities Investor Protection Act (“SIPA”) as set forth in the attached order. LINK

Mr. Picard supersedes Lee S. Richards, the previously appointed Receiver for BMIS and all claims by customers of BMIS will be processed by Mr. Picard as SIPA Trustee. Customers and claimants should refer to the website of the Securities Investor Protection Corporation for information about the processing of claims. SIPC.ORG

Mr. Richards continues to serve as Receiver for Madoff Securities International Ltd. pursuant to the attached order. LINK

Should you have further questions, please contact the Trustee at the following number: 888-727-8695.

Attorney Info for investors: 

Seeger Weiss LLP

MADOFF AND THE SIPC – Law Firm Sonn & Erez Attorneys Fort Lauderdale, Florida.

Want to see the details of the case?  U.S. v. Madoff, 08-mag-2735

Order Freezing Assets and Granting Other Relief

This fallout is going to be very very bad.  Did ya hear?  It’s the Dow dropping, as hedge funds continue to unwind or just disappear.

“Aim for Something” 


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