Comments on: How the largest Ponzi scheme used good marketing http://www.chris-moody.com/blog/2008/12/how-the-largest-ponzi-scheme-used-good-marketing/ Chris Moody Fri, 26 Feb 2010 09:44:11 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Chris Moody http://www.chris-moody.com/blog/2008/12/how-the-largest-ponzi-scheme-used-good-marketing/comment-page-1/#comment-358 Chris Moody Wed, 11 Feb 2009 20:56:45 +0000 http://www.chris-moody.com/blog/?p=71#comment-358 <a href="http://bit.ly/yUXf6" rel="nofollow">Madoff's wife pulled out $15 million before his arrest</a> Madoff’s wife pulled out $15 million before his arrest

]]> By: Chris Moody http://www.chris-moody.com/blog/2008/12/how-the-largest-ponzi-scheme-used-good-marketing/comment-page-1/#comment-83 Chris Moody Thu, 08 Jan 2009 20:38:55 +0000 http://www.chris-moody.com/blog/?p=71#comment-83 /table amended Thanks for that insight! /table amended

Thanks for that insight!

]]> By: Sean Bellew http://www.chris-moody.com/blog/2008/12/how-the-largest-ponzi-scheme-used-good-marketing/comment-page-1/#comment-55 Sean Bellew Thu, 18 Dec 2008 10:57:55 +0000 http://www.chris-moody.com/blog/?p=71#comment-55 <a href="#comment-19" rel="nofollow">@Chris Moody </a> I should be grateful if you could correct the erroneous assertion that Vincent Tchenguiz has a possible loss of $61m as a result of Bernard Madoff’s alleged activities. This figure is incorrect on a number of levels and is being picked up from your website and repeated elsewhere. Mr Tchenguiz has no direct exposure to the alleged Madoff scam. Elsina Ltd, whose ultimate beneficial owner is the Tchenguiz Family Trust, which is advised by Vincent Tchenguiz’s Consensus Business Group, has a 29.9% holding in Bramdean Alternatives Ltd (“Bramdean”. You list Bramdean’s possible loss separately and you are therefore double counting. Bramdean announced on Friday 12th December that it “has two holdings that maintain trading accounts with Bernard L. Madoff Investment Securities LLC ("Madoff"), Defender Ltd. and Rye Select Broad Market XL Portfolio Ltd., representing approximately 9.5% of” Bramdean’s net asset value as at 31st October 2008 (US$220,245,659). Therefore Elsina Ltd is, arguably exposed to 29.9% of 9.5% of US$220,245,659 – which is $6,256,077. However, as one invests in the shares of a company, not in its net asset value, even this calculation is spurious. Please amend your table accordingly. @Chris Moody
I should be grateful if you could correct the erroneous assertion that Vincent Tchenguiz has a possible loss of $61m as a result of Bernard Madoff’s alleged activities. This figure is incorrect on a number of levels and is being picked up from your website and repeated elsewhere.

Mr Tchenguiz has no direct exposure to the alleged Madoff scam. Elsina Ltd, whose ultimate beneficial owner is the Tchenguiz Family Trust, which is advised by Vincent Tchenguiz’s Consensus Business Group, has a 29.9% holding in Bramdean Alternatives Ltd (“Bramdean”. You list Bramdean’s possible loss separately and you are therefore double counting.

Bramdean announced on Friday 12th December that it “has two holdings that maintain trading accounts with Bernard L. Madoff Investment Securities LLC (“Madoff”), Defender Ltd. and Rye Select Broad Market XL Portfolio Ltd., representing approximately 9.5% of” Bramdean’s net asset value as at 31st October 2008 (US$220,245,659).

Therefore Elsina Ltd is, arguably exposed to 29.9% of 9.5% of US$220,245,659 – which is $6,256,077. However, as one invests in the shares of a company, not in its net asset value, even this calculation is spurious.

Please amend your table accordingly.

]]> By: Chris Moody http://www.chris-moody.com/blog/2008/12/how-the-largest-ponzi-scheme-used-good-marketing/comment-page-1/#comment-22 Chris Moody Mon, 15 Dec 2008 23:49:04 +0000 http://www.chris-moody.com/blog/?p=71#comment-22 Thanks for that Marc! Thanks for that Marc!

]]> By: marc http://www.chris-moody.com/blog/2008/12/how-the-largest-ponzi-scheme-used-good-marketing/comment-page-1/#comment-21 marc Mon, 15 Dec 2008 23:25:20 +0000 http://www.chris-moody.com/blog/?p=71#comment-21 nice list -- it is actually from www.finalternatives.com http://www.finalternatives.com/node/6354 nice list — it is actually from http://www.finalternatives.com

http://www.finalternatives.com/node/6354

]]> By: Chris Moody http://www.chris-moody.com/blog/2008/12/how-the-largest-ponzi-scheme-used-good-marketing/comment-page-1/#comment-19 Chris Moody Mon, 15 Dec 2008 19:52:44 +0000 http://www.chris-moody.com/blog/?p=71#comment-19 Victims Of Bernard Madoff’s Alleged Ponzi Scheme: Fairfield Greenwich Group- $7.5 billion… firm statement Banco Santander- $3.5 billion… El Pais Kingate Management- $2.8 billion… Bloomerg News Ascot Partners- $1.8 billion… Wall Street Journal Benbassat & Cie- $935 million… Le Temps Union Bancaire Privee- $846 million… Le Temps Fix Asset Management- $400 million… firm statement Pioneer Alternative Investments- $280 million… Bloomberg Maxam Capital Management- $280 million… WSJ EIM Group- $230 million… Le Temps Carl and Ruth Shapiro Family Foundation- $145 million… Boston Globe Royal Bank of Scotland- $601 million… Variety Vincent Tchenguiz- $61 million… The Telegraph - Please refer to comment below Banque Benedict Hentsch- $47.5 million… firm statement Town of Fairfield, Conn.- $42 million… Associated Press Reichmuth Matterhorn- $33 million… Le Temps Bramdean Asset Management- $31 million… WSJ Madoff Family Foundation- $19 million… WSJ Richard Spring- $11 million… WSJ Richard Roth- $10 million… FINalternatives RObert I. Lappin Charitable Foundation- $8 million… Washington Post Michael Roth- $7.5 million… FINalternatives Chais Family Foundation- $7 million… WSJ Julian J. Levitt Foundation- $6 million… WSJ David Berger- $5 million… FINalternatives Neue Privat Bank- $5 million… Bloomberg North Shore-Long Island Jewish Health System- $5 million… statement Ira Roth- $1 million… WSJ Arnold and Joan Sinkin- $1 million… The Guardian Steven Abbott- less than $1 million… WSJ Access International- n/a Banco Popolare- n/a BNP Paribas- n/a Norman Braman- n/a Engelbardt family - n/a Barbara Flood- n/a Lautenberg Family Foundation- n/a Loeb family - n/a Nomura bank- n/a Notz, Stucki & Cie- n/a Optimal Investment Services- n/a Palm Beach Country Club- n/a Sterling Equities- n/a Tremont Capital Management- n/a Thyssen family- n/a UniCredit- n/a Lawrence Velvel- n/a Wilpon family- n/a Yeshiva University- n/a Michael Roth- $7.5 million… FINalternatives Richard Roth- $10 million… FINalternatives David Berger- $5 million… FINalternatives Barbara Flood- n/a Arnold & Joan Sinkin- $1 million… Guardian Royal Bank of Scotland- $113 million… Variety The Engelbardt Family- n/a Yeshiva University- n/a from http://www.finalternatives.com Please see the comments below as some of this information appears to be incorrect. Victims Of Bernard Madoff’s Alleged Ponzi Scheme:

Fairfield Greenwich Group- $7.5 billion… firm statement
Banco Santander- $3.5 billion… El Pais
Kingate Management- $2.8 billion… Bloomerg News
Ascot Partners- $1.8 billion… Wall Street Journal
Benbassat & Cie- $935 million… Le Temps
Union Bancaire Privee- $846 million… Le Temps
Fix Asset Management- $400 million… firm statement
Pioneer Alternative Investments- $280 million… Bloomberg
Maxam Capital Management- $280 million… WSJ
EIM Group- $230 million… Le Temps
Carl and Ruth Shapiro Family Foundation- $145 million… Boston Globe
Royal Bank of Scotland- $601 million… Variety
Vincent Tchenguiz- $61 million… The Telegraph – Please refer to comment below
Banque Benedict Hentsch- $47.5 million… firm statement
Town of Fairfield, Conn.- $42 million… Associated Press
Reichmuth Matterhorn- $33 million… Le Temps
Bramdean Asset Management- $31 million… WSJ
Madoff Family Foundation- $19 million… WSJ
Richard Spring- $11 million… WSJ
Richard Roth- $10 million… FINalternatives
RObert I. Lappin Charitable Foundation- $8 million… Washington Post
Michael Roth- $7.5 million… FINalternatives
Chais Family Foundation- $7 million… WSJ
Julian J. Levitt Foundation- $6 million… WSJ
David Berger- $5 million… FINalternatives
Neue Privat Bank- $5 million… Bloomberg
North Shore-Long Island Jewish Health System- $5 million… statement
Ira Roth- $1 million… WSJ
Arnold and Joan Sinkin- $1 million… The Guardian
Steven Abbott- less than $1 million… WSJ
Access International- n/a
Banco Popolare- n/a
BNP Paribas- n/a
Norman Braman- n/a
Engelbardt family – n/a
Barbara Flood- n/a
Lautenberg Family Foundation- n/a
Loeb family – n/a
Nomura bank- n/a
Notz, Stucki & Cie- n/a
Optimal Investment Services- n/a
Palm Beach Country Club- n/a
Sterling Equities- n/a
Tremont Capital Management- n/a
Thyssen family- n/a
UniCredit- n/a
Lawrence Velvel- n/a
Wilpon family- n/a
Yeshiva University- n/a
Michael Roth- $7.5 million… FINalternatives
Richard Roth- $10 million… FINalternatives
David Berger- $5 million… FINalternatives
Barbara Flood- n/a
Arnold & Joan Sinkin- $1 million… Guardian
Royal Bank of Scotland- $113 million… Variety
The Engelbardt Family- n/a
Yeshiva University- n/a

from http://www.finalternatives.com

Please see the comments below as some of this information appears to be incorrect.

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