Biggest Madoff loser eyes legal move & Wikileaks posted new info

FT.com – Biggest Madoff loser eyes legal move on PwC.

The fund, believed to be the biggest single loser in Bernard Madoff’s alleged $50bn “Ponzi” scheme is considering suing PwC, its own accountants, for failing to detect the fraud, as victims start looking for deep-pocketed sources of compensation for their losses.

Fairfield Greenwich, whose clients stand to lose $7.5bn invested with Bernard L Madoff Investment Securities, is considering the action after an auditor was named in a case brought by another victim. [Read More]

Want to see the details of Madoff’s criminal complaint?  U.S. v. Madoff, 08-mag-2735
http://www.usdoj.gov/usao/nys/madoff.html

Order Freezing Assets and Granting Other Relief

 

From Bloomberg: Madoff’s Indirect Investors May Recover Some Money, Lawyer Says

Investors who went through a third-party such as a hedge fund or a broker can turn to a lawsuit or arbitration, said Jacob Zamansky, a securities-arbitrationattorney based in New York.

“Since these third parties didn’t do the appropriate due diligence before turning their clients’ money over to Madoff’s firm, they are liable,” according to Zamansky, who said he has been retained by about 12 clients who invested directly or indirectly with Madoff. [Read more

From Wiki leaks: Deleted Bernard Securities contact info

 

Aimee
“Aim for Answers” 

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