FACTBOX - Companies exposed to Madoff's alleged fraud

Tue Jan 27, 2009 1:29pm EST
 
[-] Text [+]

(Reuters) - Following are some of the companies exposed to the alleged $50 billion (35.3 billion pound) securities fraud by Wall Street pioneer Bernard Madoff:

* AUSTIN CAPITAL MANAGEMENT - The company managed money for the Massachusetts state pension fund, which lost $12 million with Madoff, the pension fund said.

* BALOISE-Holding AG (BALN.VX) - The Swiss insurer will have to writedown $13 million after investing in hedge fund Kingate Global, which in turn invested in Madoff's investment vehicle.

* BANCO SANTANDER SA (SAN.MC) - Spain's largest bank said its customers have exposure of 2.33 billion euros to Madoff through Santander's alternative investment fund manager Optimal. The bank said its direct exposure is 17 million euros.

* BANK MEDICI - The closely held Austrian bank serving wealthy clients and institutional investors sold $2.1 billion worth of funds -- Herald USA and Herald Luxemburg -- exposed to Madoff, and said it held some products affected by the fraud itself, but was not at risk in case of a loss. It declined to say how big the exposure was.

* BENBASSAT & CIE - The Swiss private bank has an exposure of 1.1 billion francs (682 million pounds), according to Le Temps. Benbassat said in a statement it is reviewing the potential damages caused to its clients. It gave no data, but said the fraud appears "massive and spread among several large investor bases." Benbassat acts as a distributor of Thema International Fund PLC, an Irish registered fund that has invested in Madoff.

* BENEDICT HENTSCH - The Swiss private bank said its exposure to products linked to Madoff amounted to 56 million francs ($60 million), or less than 5 percent of assets under management.

* BNP PARIBAS SA (BNPP.PA) - France's largest listed bank said it has a potential 350 million euro exposure.

* BOSTON PROPERTIES INC (BXP.N) - Chairman Mort Zuckerman told CNBC television that about 10 percent of one of his charitable trusts was invested with Madoff and had lost about $30 million.

* BRAMDEAN ALTERNATIVES LTD (BRAL.L) - U.K. asset manager, headed by well known fund manager Nicola Horlick, said 9.5 percent of its holdings were exposed to Madoff.

* CHAIS FAMILY FOUNDATION - The group, which donates about $12.5 million annually to Jewish causes, said it will be forced to close after the entire fund was invested with Madoff.

* FAIRFIELD GREENWICH GROUP - The alternative investment specialist said in a statement on its website it had invested about $7.5 billion in vehicles connected to Madoff, or half of its assets.

* FORTIS NV (FOR.BR) - The Dutch banking unit of the group recently acquired by the Dutch government said it may have a loss of up to 1 billion euros ($1.43 billion) due to loans made to funds that invested in Madoff Securities.

* FRENCH MUTUAL FUNDS have an exposure of about 500 million euros via funds in Ireland and Luxembourg, according to AMF.

* GMB CAPITAL MANAGEMENT, a hedge fund firm run by a Massachusetts Institute of Technology professor, is shutting a fund after losing more than $50 million on bad bets that included putting money with accused swindler Bernard Madoff, people familiar with the matter said.

* GREAT EASTERN HOLDINGS LTD (GELA.SI) - The insurance arm of Singapore's Oversea-Chinese Banking Corp Ltd (OCBC.SI) said it has an indirect exposure of about S$64 million ($44 million) through some funds of the Fairfield Greenwich Group.  Continued...

 

Featured Broker sponsored link