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Madoff Fraud Will Hit Hedge Funds Hard

$50B Ponzi scheme will stagger funds, send investors to exits

By Clay Dillow, Newser Staff

Posted Dec 12, 2008 10:20 AM CST

(Newser) – Even as hedge funds face their worst yearly returns ever, they may take another collective $10 billion hit on money invested in Bernard Madoff’s namesake firm, which was revealed to be a giant Ponzi scheme yesterday, Bloomberg reports. Madoff was arrested and charged with... Read full story »

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Madoff Fraud Will Hit Hedge Funds Hard

$50B Ponzi scheme will stagger funds, send investors to exits

private equity • Ponzi scheme • defrauding investors • hedge funds • financial meltdown • Bernard Madoff

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More Newser Stories

Madoff Brother Eyed for Not Reporting Scam

Fraudster may have confessed to brother before he told his sons

Fund Warned Clients Madoff 'Could Abscond With Assets'

Kingate Global's prospectus highlighted risks associated with Madoff Securities

Middlemen Lose Billions in Madoff Fraud

Hedge funds that sold access to Ponzi scheme face collapse

Madoff Victims May Be Able to Sue Middlemen

Feeder funds could be headed to court

Vast Madoff Options Scheme Didn't Add Up

SEC unfurls $50B scam that should have been obvious

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