The Wizard of Lies: Bernie Madoff and the Death of Trust (67 page)

London bankruptcy court

London Stock Exchange

Lux-Alpha funds

Luxembourg

Lynch, Peter

Madoff, Andrew (son)

accusations vs.

brother’s suicide and

divorce of

father’s arrest and

illness of

lawsuits vs.

loans to

Madoff, Bernard L.
See also
Bernard L. Madoff Investment Securities; Madoff Securities International, Ltd.; Madoff victims;
and specific agencies, funds, and individuals

arbitrage and

arrest of

assets of, frozen and sold

audits of

automation and

Avellino & Bienes and

bail and

bankruptcy problems exposed by arrest of

Bayou scandal and

Bear Stearns and

beginning of fraud by

brokerage firm founded by, and OTC market

cash crisis of 1962 and borrowing by

cash crisis of 1987 and

cash crisis of 1992 and

cash crisis of 2005–6 and near exposure of

cash crisis of 2005–6 and recovery by

cash crisis of 2008 and lead-up to collapse of

cash flows of 1990s

cash flows of 2002

cash flows of 2007

cash withdrawal requests of 2008 and

cash withdrawals of 1994

charities and

checks written before confession

childhood and education of

Cincinnati Stock Exchange and

civil lawsuits by victims of

clawback lawsuits and

Cohmad formed by

commission payments and

confession of

congressional hearings on

death of parents and

death of son Mark and

derivatives and

DiPascali and fraud of

DTCC and

early investors and introducers and

economic weakness in 2007 and

employee money managed by

employee salaries and

exclusivity and secrecy and

extramarital affair allegations and

Fairfield Greenwich and

falsification of records by

family illnesses and

family of, and impact of crime

family of, and questions about knowledge of fraud

family wealth and

father’s brokerage failure and

feeder fund fees and

feeder funds begun by father-in-law

feeder funds begun by nonfamily members

feelings of, for family

feelings of, for victims

foreign funds and

French town house

guilty plea of

hedge funds and

house arrest of, and gifts to family

humanity of

IRAs and

Jewish connections and

lawsuits arising from

lessons of, for investors and regulators

Levy estate executor

Lipstick Building office of

loans by, to family and staff

London office opened by

losses of, and final account statements

losses of, and length of fraud

losses of, and number of victims

lying by

Manhattan penthouse of

market making and

Markopolos accusations and

marries Ruth Alpern

modern market shaped by

Montauk beach house

NASDAQ and

options trading not reported

Palm Beach home and

pension funds and

Philoctetes speech of 2007

Picower and

Picower settlement and

Ponzi scheme of, and legitimate firm

Ponzi scheme of, described to federal prosecutors

Ponzi scheme of, enabled by Wall Street

Ponzi scheme of, seductiveness of

Ponzi scheme of, size of

prison interviews of

reason for not fleeing

relationship with brother, Peter

relationship with wife, Ruth

relationship with sons

returns of

Roslyn house of

SEC failures exposed by arrest of

SEC inquiries of 1992

SEC inspector Kotz interviews

SEC investigation of 1992 and

SEC investigation of 2003 and

SEC investigation of 2005 and

SEC investigation of late 2005–6 and

SEC investigations of, revealed in 2009

SEC shutdown of Avellino & Bienes and

sentencing of

SIPC liquidation and

small investors and

sole responsibility claim of

Sorkin as lawyer for, and conflict issue

split-strike conversion strategy and

suspicions of

synthetic trades by, and taxes

third market and

trading strength affirmed

travels to France

trust and credibility of

victim compensation and

wealth and lifestyle of

yacht and slip of

Madoff, Deborah (former daughter-in-law)

Madoff, Marion (sister-in-law)

Madoff, Mark (son)

accusations vs.

father’s arrest and

lawsuits vs.

loans to

suicide of

wife changes last name

Madoff, Peter (brother)

Cincinnati Stock Exchange and

Cohmad and

death of son and

DiPascali and

early life of

Engler and

family redemption checks and

gifts and loans to

hedge funds and

lawsuits vs.

London office and

Madoff confesses to

Madoff’s arrest and

Mark’s suicide and

Palm Beach home of

role of, in firm

Madoff, Ralph (father)

Madoff, Roger (nephew)

illness and death of

Madoff, Rose (grandmother)

Madoff, Ruth Alpern (wife)

accusations vs.

assets forfeited by

charities and

children and

criminal charges not filed vs.

early life of

early work for firm

family illnesses and

feelings of, for victims

firm Christmas party and

friendships and

lawsuits vs.

Madoff’s arrest and

Madoff’s confession and

mails jewelry to family

Manhattan penthouse and

marries Madoff

son Mark’s suicide and

stands by husband after arrest

year before arrest and

Madoff, Shana (niece)

Madoff, Solomon David (grandfather)

Madoff, Sondra (sister)

Madoff, Stephanie (daughter-in-law)

Madoff, Sylvia Muntner (mother)

Madoff family foundation

Madoff Securities International, Ltd. (London subsidiary)

Madoff victims.
See also specific individuals

accusations by, vs. family

accusations by, vs. Picard

attempt to sue SEC

cash needs and huge losses of

charities of

claims payments to

compensation fund alternative for

Congress and

DiPascali guilty plea and

essays by

feeder funds and banks sued by

indirect investors as

learn of fraud

listed

Madoff guilty plea and

Madoff sentencing and

net equity (cash in, cash out) dispute and

net losers

net winners

number of claims filed by

Picard as trustee for

Picower settlement and

suicides of

trust in Madoff by

Maertens, Maurice E.

Magellan fund

Malkovich, John

Manion, Ed

Manzke, Sandra

MARHedge

market making

Markopolos, Harry

Massachusetts Institute of Technology, Picower Institute for Learning and Memory

Massachusetts School of Law

Massachusetts state securities regulators

Maxam Capital

Maxam Fund Group

McKeefry, Mark

mergers and takeovers

Meritor fund

Merkin, Hermann

Merkin, J. Ezra

Madoff losses disclosed

Merrill Lynch

Bank of America merger

middle-income investors

Mitterrand, François

money market funds

Moragne, Maria

Morgan Stanley

Morgenthau, Robert

MorseLife Foundation

mortgage default crisis

mortgage derivatives

Mukasey, Marc

Muntner, Harry (grandfather)

Murdoch, Rupert

Murray, Tim

mutual funds

NASD (National Association of Securities Dealers)

Board of Governors

regulation and

NASDAQ (National Association of Securities Dealers Automated Quotations)

automation of

crash of 1987

Madoff as chairman of

price-fixing scandal

tech-stock bubble

Nash, John

National Quotation Bureau

new-issue market

News Corporation

New Times
case

New York City near bankruptcy

New York City Center

New York
Daily News

New York Law School

New York
magazine

New York Mets

New York Post

New York State bankruptcy law

New York State pension funds

New York Stock Exchange (NYSE, “Big Board”)

New York Times

New York University

Nierenberg, George

Noel, Monica Haegler

Noel, Walter, Jr.

Nomura Bank International

North Shore Long Island Jewish Hospitals

Norton, Steven

Oak Ridge Country Club (Hopkins, Minnesota)

Obama, Barack

Ocrant, Michael

Odyssey Partners fund

O’Hara, Jerome

Old Naples Securities
case

Oppenheim, Appel, Dixon & Company

OppenheimerFunds

Optimal funds

options trading

SEC investigation of 2005–6 and

size constraints and

Ostrow, William David

over-the-counter (OTC) market

automation of

crash of 1987 and

Madoff losses of 1962 in

price-fixing scandal and

Pacific Stock Exchange

Paul, Weiss, Rifkind, Wharton & Garrison

Paulson, Henry

payments for order flow

pension funds

Peretz, Martin

Perez, George

Persico, Carmine

Philadelphia Eagles

Phillips Nizer

Philoctetes Center

Picard, Irving H.

amount collected by

assigned as Madoff trustee

claims approved by

clawback lawsuits and

feeder funds and

foreign regulators and

indirect investors and

lawsuits vs. Madoff family by

legal fees of

net equity disputes and

Picower suit and

victims’ lawsuit vs.

victims located by

Picower, Barbara

Picower, Jeffry M.

death of

lawsuit vs.

philanthropy of

withdrawals by

Picower Foundation

Piedrahita, Andrés

Piedrahita, Corina Noel

Pink Sheets

Pitt, Harvey

Polaroid

Pollard, Jonathan

Ponzi schemes.
See also
Madoff, Bernard L.

Bayou Group exposed as

bull markets and