26-12-2008, 07:26 PM
The comments by journalists, judges and commentators alike seem to be unanimous. The whole Madoff affair was a terrible, terrible fraud. A horrible, awful, rancid, malodorous, disgusting fraud. Really bad and terrible too. Oh, how investors must have suffered. The loss of faith and trust (and money). The suffering, the humanity.
When these poor souls finally dry their tears, here's how they can claim compensation:
http://www.reuters.com/article/wtMostRea...ZT20081224
Investors can also make claims for money lost with Madoff through the Securities Investor Protection Corp (SIPC), which is overseeing the liquidation of Bernard L. Madoff Investment Securities LLC via a court-appointed trustee.
A U.S. bankruptcy court judge on Tuesday authorized the nonprofit group, created by Congress in 1970, to mail claim forms to customers in the first week of January. Customers have six months to return the forms.
"They will return those claim forms to the trustee with data indicating what they believe they were owed, how much they put in, how much they withdrew," said Stephen Harbeck, SIPC president and chief executive. "Since the records in this case are unreliable, the more information people can get us the faster we will be able to satisfy the claim."
I love that last sentence. Now was it four billion I had in the fund. No, maybe it was six or seven. Better check with Bernie's trustee, oops I forgot, the records are 'unreliable'. Maybe that's not so bad.
I agree with one blogger who said Bernie's done a Jack Ruby.
p.s. it was a terrible terrible fraud.
When these poor souls finally dry their tears, here's how they can claim compensation:
http://www.reuters.com/article/wtMostRea...ZT20081224
Investors can also make claims for money lost with Madoff through the Securities Investor Protection Corp (SIPC), which is overseeing the liquidation of Bernard L. Madoff Investment Securities LLC via a court-appointed trustee.
A U.S. bankruptcy court judge on Tuesday authorized the nonprofit group, created by Congress in 1970, to mail claim forms to customers in the first week of January. Customers have six months to return the forms.
"They will return those claim forms to the trustee with data indicating what they believe they were owed, how much they put in, how much they withdrew," said Stephen Harbeck, SIPC president and chief executive. "Since the records in this case are unreliable, the more information people can get us the faster we will be able to satisfy the claim."
I love that last sentence. Now was it four billion I had in the fund. No, maybe it was six or seven. Better check with Bernie's trustee, oops I forgot, the records are 'unreliable'. Maybe that's not so bad.
I agree with one blogger who said Bernie's done a Jack Ruby.
p.s. it was a terrible terrible fraud.