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FRIDAY, NOVEMBER 27, 2009
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More Banks, Celebs Losers in Madoff Scam

BNP Paribas, RBS join charities of Spielberg, Wiesel as Ponzi victims

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(Newser) – Bernard Madoff’s alleged Ponzi scheme, which federal investigators say cost investors $50 billion, continues to claim more victims, reports the Wall Street Journal. Spain’s Grupo Santander and France’s BNP Paribas said yesterday they’re on the list, as are charities involving Nobel laureate Elie Wiesel and director Steven Spielberg. And, Bloomberg adds, US regulators didn’t give Madoff’s operations as much scrutiny as normal, despite red flags.

The Royal Bank of Scotland, Man Group, Swiss bank UBS and Japan’s Nomura Holdings also said today they had hundreds of millions invested with Madoff, the Financial Times reports; HSBC says it could be out $1 billion. Real-estate billionaire Mortimer Zuckerman and the family foundation of New Jersey Sen. Frank Lautenberg are also on the hook.

Bernard L. Madoff, chairman of Madoff Investment Securities is seen on his Manhattan trading floor in this Dec. 30, 1999, photo.
Bernard L. Madoff, chairman of Madoff Investment Securities is seen on his Manhattan trading floor in this Dec. 30, 1999, photo.   (AP Photo)
Boston University professor Elie Wiesel.
Boston University professor Elie Wiesel.   (AP Photo)
A charity run by Steven Spielberg invested heavily with Bernard Madoff's firm, an operation the investor now admits was a Ponzi scheme.
A charity run by Steven Spielberg invested heavily with Bernard Madoff's firm, an operation the investor now admits was a Ponzi scheme.   (AP Photo)
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Steven Spielberg • Royal Bank of Scotland • UBS • SEC • BNP Paribas • HSBC • Banco Santander • Ponzi scheme • securities fraud • Mortimer Zuckerman • Nomura Holdings • Frank Lautenberg • Bernard Madoff • Elie Wiesel

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