Friday, December 19, 2008
List Of Entities Announcing Exposure To Madoff Investments
The following entities have announced exposure to Bernard L. Madoff Investment Securities LLC, the New York-based business that allegedly lost $50 billion in a giant pyramid scheme.
Entity: St. Galler Kantonalbank's (SGKN.EB) private Hyposwiss bank
Exposure: $50 million, roughly 0.1% of its overall assets, was invested in
Madoff products through managed accounts. Another $100 million is exposed
through clients invested in Madoff funds.
Date of disclosure: Dec. 18
Notes: St. Galler Kantonalbank first announced the exposure on Dec. 15 and
said its financial situation and liquidity aren't hurt by Hyposwiss'
exposure. Hyposwiss said Dec. 18 that 25% of of 2,000 clients at its Geneva
branch had products sold by Madoff in their portfolios.
Entity: Yeshiva University
Exposure: n/a
Date of disclosure: Dec. 18
Notes: Yeshiva had no direct investment but 8% ($110 million) of its
endowment was invested for 15 years with Ascot Partners LP, which had
"substantially all its assets invested with Madoff," a letter sent by the
university said...
CNN Money: List Of Entities Announcing Exposure To Madoff Investments
Entity: St. Galler Kantonalbank's (SGKN.EB) private Hyposwiss bank
Exposure: $50 million, roughly 0.1% of its overall assets, was invested in
Madoff products through managed accounts. Another $100 million is exposed
through clients invested in Madoff funds.
Date of disclosure: Dec. 18
Notes: St. Galler Kantonalbank first announced the exposure on Dec. 15 and
said its financial situation and liquidity aren't hurt by Hyposwiss'
exposure. Hyposwiss said Dec. 18 that 25% of of 2,000 clients at its Geneva
branch had products sold by Madoff in their portfolios.
Entity: Yeshiva University
Exposure: n/a
Date of disclosure: Dec. 18
Notes: Yeshiva had no direct investment but 8% ($110 million) of its
endowment was invested for 15 years with Ascot Partners LP, which had
"substantially all its assets invested with Madoff," a letter sent by the
university said...
CNN Money: List Of Entities Announcing Exposure To Madoff Investments
Permalink posted by markw @ 5:47 AM 
 |
 |  |
  |
