• Most Popular
  • Most Shared

Nomura says has Madoff-related exposure

TOKYO
Mon Dec 15, 2008 3:44am EST

TOKYO (Reuters) - Nomura Holdings, Japan's biggest brokerage, said on Monday it had a 27.5 billion yen (200 million pound) exposure related to Bernard Madoff, but added impact on the firm's capital was limited.

Madoff, a former chairman of the Nasdaq Stock Market, was arrested in New York on Thursday and charged with orchestrating a huge finance fraud through an investment-advisory arm of market-making firm Bernard L. Madoff Investment Securities.

Madoff's advisory business had $17.1 billion of assets under management but many investors may have had indirect exposure by investing through the hedge funds and other of the firm's clients. He has said losses were about $50 billion.

(Reporting by Sachi Izumi; Editing by Rodney Joyce)


More from Reuters

Photo

Tensions rise after bomb, U.S. drone attack in Pakistan

ISLAMABAD (Reuters) - A suicide bomber killed up to 10 people in Pakistan on Friday, while a suspected U.S. drone killed six militants, as rising political tension threatened to distract the government from its war against the Taliban.

» More Top News
U.S. President Barack Obama attends the morning plenery session of the United Nations Climate Change Conference (COP15) at the Bella Center in Copenhagen, Denmark, December 18, 2009. REUTERS/Larry Downing

Time running out on climate

President Barack Obama met world leaders in Copenhagen in a bid to reach a new global climate agreement after all-night talks failed.   Full Article | Video 

Climate conference
Pedestrians are reflected in a Citigroup window in Boston, Massachusetts. REUTERS/Brian Snyder

Citi's next challenge

Citigroup's plan to extract itself from the government's clutches didn't go as planned. For the bank to succeed, one of two things need to happen.  Full Article 

ECONOMY