Friday, December 11, 2009

Bernie Madoff's alphabet

(yes it's a piggy bank--where money can come in, but can never come out)

Andrew, one of Bernard Madoff’s two sons, the former director of trading at the now-defunct Bernard L. Madoff Investment Securities, and who has not been charged with any wrongdoing. Reportedly looking at starting a firm involved in, fittingly, disaster recovery.


Bull, Madoff's yacht

Bullship, water rescue rings for the Bull yahct

Butner Federal Correctional Complex, where Madoff is currently doing a 150-year stint.


Cap d’Antibes, idyllic seaside town on the French Riviera where Madoff owned a $1.6 million villa.

DiPascali, Frank, Madoff’s chief financial officer and right hand man, one of just two people other than Madoff to be criminally charged. Has pleaded guilty and is apparently cooperating with authorities to get a lesser sentence.

de la Villehuchet, René-Thierry Magon, 65-year-old French financier who had invested more than $1 billion with Madoff and who killed himself a few weeks after the fraud was exposed.

Depository Trust & Clearing Corporation, with which the SEC astonishingly never thought to cross reference Madoff’s trading records while investigating scheme allegations.

Donahue, Mark, SEC lawyer who supervised an investigation into Madoff that turned up irregularities and who reported to Eric Swanson (see below).


Elie Wiesel, Holocaust survivor, author, professor, Nobel laureate, and political activist, whose foundation was picked clean of assets.

Everyone else in the Jewish philanthropic community, also victimized.

Fairfield Greenwich Group, manager of the Fairfield Sentry Fund, Madoff’s largest feeder.

Five, number of separate SEC investigations that missed the Madoff fraud.

Friehling, David, one of three employees of strip mall-based accounting firm Friehling & Horowitz, and one of just two people other than Madoff to be criminally charged. Said to be negotiating a plea deal.

Genevievette Walker-Lightfoot, SEC Office of Compliance Inspections and Examinations lawyer who wanted to go further with a review of Madoff in 2004 after finding some irregularities but who supposedly was told to conclude it so she could get to work on a mushrooming mutual fund industry scandal.


Harry Markopolos, analyst at rival money manager, long time Madoff skeptic and determined whistleblower who delivered to the SEC a roadmap to Madoff’s scheme.

Ira Sorkin, Madoff’s defense attorney.

J. Ezra Merkel, managing partner of Ascot Partners, a large Madoff feeder fund.


Kotz, H. David, SEC Inspector General in charge of detailing how the commission bungled the case


Lipstick Building, popular nickname of the 885 Third Avenue high rise building that housed Madoff’s firm.

Mark, one of Madoff’s two sons, and the one who has not been charged with any wrongdoing.

Mets jacket, emblazoned with Madoff, sold at auction for $14,500

Montauk, N.Y., easternmost tip of Long Island community where Madoff owned a $9 million beachfront home, 216 Old Montauk Highway.

Nasdaq, the stock exchange of which Madoff was once chairman.

Orthopedic Specialty Group, Fairfield, Conn.-based medical practice that employs more than 100 people and which decided in 1992 to invest its entire portfolio of retirement assets with Madoff.


Palm Beach Country Club, exclusive Jewish golf club where Madoff hunted his prey.

Peter, Madoff’s brother, and head of compliance, and who has not been charged with any wrongdoing.

Picard, Irving, trustee in charge of recovering Madoff’s assets.

Prisoner's watch, Rolex owned by Madoff which sold at auction for $65,000.

Public Company Accounting Oversight Board (PCAOB), with which auditors of broker-dealers are supposed to be registered, and with which Madoff “auditor” Friehling & Horowitz was not.


Quilted jacket worn by a pushy Madoff whilst being filmed near his apartment; referenced in past season of HBO’s Curb Your Enthusiasm Seinfeld reunion story arc.


Ruth, Bernie’s wife of a half century, who has not been charged with any wrongdoing. (before and after pictures)

Shana, daughter of Madoff’s brother Peter, and who worked at BLMIS as a compliance officer, and who dated and later married SEC compliance lawyer Eric Swanson, and who has not been charged with any wrongdoing.

Split Strike Conversion, purported equity options strategy used to produce his supposedly steady, consistent returns.

Swanson, Eric (“see Shana”)

Tremont Group, OppenheimerFunds-owned fund of hedge funds that fed more than $3 billion to Madoff.

Union Bancaire Privée, Geneva, Switzerland-based private bank that invested $1 billion in Madoff through Fairfield Greenwich.

Victims of the monstrous swindle, at least 14,000

“Verify, Trust but,” popular saying in variety of investigative fields, less used within SEC inspection units staffed by lawyers a little too cozy with Madoff.


Walter Noel, status chasing founder of Fairfield Greenwich Group, Madoff feeder.

(X-17A-5, Form), three-part, SEC-mandated audit questionnaire that broker-dealers such as BLMIS are required fill out annually, and which Madoff personally signed each year attesting that the information provided and supporting materials were valid and truthful.

Yeshiva University, chiseled out of $110 million.


Zarb, Frank, Nasdaq chairman (1997-2001), Hofstra alum and personal friend of Madoff, Nasdaq chairman (1990-91, 1993) and Hofstra alum.

(Bernie Madoff, A-Z  h/t hedgeworld idea)

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