{"entity":{"id":11355,"slug":"bernard-l-madoff-investment-securities","name":"Bernard L. Madoff Investment Securities","type":"company","role":"Wall Street market-maker; vehicle of the Madoff Ponzi scheme","description":"Broker-dealer and investment-advisory firm founded by Bernie Madoff in 1960, headquartered at the Lipstick Building, 885 Third Avenue, NYC. Liquidated under SIPA after the 2008 collapse. The 17th-floor \"investment-advisory\" operation was the locus of the Ponzi scheme.","imageUrl":"https://upload.wikimedia.org/wikipedia/commons/thumb/f/f7/Bernard_Madoff_2009_mug_shot_%283x4_cropped%29.jpg/330px-Bernard_Madoff_2009_mug_shot_%283x4_cropped%29.jpg","createdAt":"2026-04-20T11:22:01.543Z","updatedAt":"2026-05-19T09:34:47.430Z"},"electedOffice":null,"significance":{"score":12,"components":{"totalFindings":0,"connectionDegree":8,"recentFindings90d":0,"activeResearchJobs":0,"goblinAttributions":4,"recentSyntheses90d":0,"moneyFlowChainsTotal":0,"closedLoopMemberships":0,"moneyFlowHopsRecent90d":0},"computedAt":"2026-10-16T01:34:31.424Z"},"facts":[{"id":48769,"text":"As of April 2026, SIPA Trustee Irving Picard has recovered approximately $15.378 billion and distributed over $14.799 billion to BLMIS customers with allowed claims.","confidence":"primary","dateOccurred":"2026-04-24","source":{"title":"Madoff Recovery Initiative — Office of the SIPA Trustee","url":"https://www.madofftrustee.com/","publication":"Baker Hostetler / SIPA Trustee"}},{"id":48759,"text":"In 2014, JPMorgan Chase entered into a deferred prosecution agreement, admitted to Bank Secrecy Act violations, and paid $1.7 billion to Madoff victims.","confidence":"primary","dateOccurred":"2014-01-07","source":{"title":"Manhattan U.S. Attorney and FBI Announce Deferred Prosecution Agreement with JPMorgan Chase in Connection with Madoff Ponzi Scheme","url":"https://archives.fbi.gov/archives/newyork/press-releases/2014/manhattan-u.s.-attorney-and-fbi-assistant-director-in-charge-announce-filing-of-criminal-charges-against-and-deferred-prosecution-agreement-with-jpmorgan-chase-bank-n.a.-in-connection-with-bernard-l.-madoffs-multi-billion-dollar-ponzi-scheme","publication":"Federal Bureau of Investigation"}},{"id":48747,"text":"In 2014, JPMorgan Chase entered into a deferred prosecution agreement, admitting to Bank Secrecy Act violations and paying $1.7 billion to Madoff victims.","confidence":"primary","dateOccurred":"2014-01-07","source":{"title":"Manhattan U.S. Attorney And FBI Assistant Director-In-Charge Announce Filing Of Criminal Charges Against And Deferred Prosecution Agreement With JPMorgan Chase Bank, N.A.","url":"https://www.justice.gov/archive/usao/nys/pressreleases/January14/JPMCDPAPR.php","publication":"U.S. Department of Justice"}},{"id":48762,"text":"Peter Madoff served as Chief Compliance Officer and Senior Managing Director of BLMIS from 1969 to December 2008 and created false compliance documents.","confidence":"primary","dateOccurred":"2012-06-29","source":{"title":"SEC Charges Peter Madoff With Fraud and False Statements to Regulators","url":"https://www.sec.gov/newsroom/press-releases/2012-2012-126htm","publication":"U.S. Securities and Exchange Commission"}},{"id":48763,"text":"Mark and Andrew Madoff, Bernie's sons, ran the market-making and proprietary trading businesses (House 5) and were not charged with criminal wrongdoing related to the Ponzi scheme.","confidence":"secondary","dateOccurred":"2011-12-22","source":null},{"id":48757,"text":"The SEC's Office of Inspector General found that the SEC received six substantive complaints about Madoff between June 1992 and December 2008 but failed to uncover the fraud.","confidence":"primary","dateOccurred":"2009-09-04","source":{"title":"Inspector General's Madoff Report","url":"https://hedgefundlawblog.com/inspector-general’s-madoff-report.html","publication":"Hedge Fund Law Blog"}},{"id":48748,"text":"The SEC's Office of Inspector General found that the SEC received six substantive complaints about Madoff between 1992 and 2008 but failed to uncover the fraud.","confidence":"primary","dateOccurred":"2009-09-04","source":{"title":"Bernard L. Madoff and Bernard L. Madoff Investment Securities LLC (SEC Litigation Release No. 20834)","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-20834","publication":"U.S. Securities and Exchange Commission"}},{"id":48764,"text":"Frank DiPascali Jr., BLMIS's de facto CFO and director of options trading, oversaw the creation of millions of phony trading records.","confidence":"primary","dateOccurred":"2009-08-11","source":null},{"id":48761,"text":"BLMIS's auditor, David G. Friehling of Friehling & Horowitz, CPAs, falsely certified audit reports from 1991 through 2008 without conducting meaningful audits.","confidence":"primary","dateOccurred":"2009-03-18","source":{"title":"SEC Charges Madoff Auditors With Fraud","url":"https://www.sec.gov/news/press/2009/2009-60.htm","publication":"U.S. Securities and Exchange Commission"}},{"id":48760,"text":"Bernie Madoff pleaded guilty to 11 felony counts on March 12, 2009 and was sentenced to 150 years in prison.","confidence":"primary","dateOccurred":"2009-03-12","source":{"title":"SEC Charges Bernard L. Madoff for Multi-Billion Dollar Ponzi Scheme","url":"https://www.sec.gov/news/press/2008/2008-293.htm","publication":"U.S. Securities and Exchange Commission"}},{"id":48750,"text":"Bernie Madoff pleaded guilty to 11 felony counts on March 12, 2009, and was sentenced to 150 years in prison.","confidence":"primary","dateOccurred":"2009-03-12","source":{"title":"Manhattan U.S. Attorney And FBI Assistant Director-In-Charge Announce Filing Of Criminal Charges Against And Deferred Prosecution Agreement With JPMorgan Chase Bank, N.A.","url":"https://www.justice.gov/archive/usao/nys/pressreleases/January14/JPMCDPAPR.php","publication":"U.S. Department of Justice"}},{"id":48756,"text":"FINRA examinations of the broker-dealer operation found no evidence of any trading on behalf of the investment advisory business and no customer statements generated by the broker-dealer.","confidence":"primary","dateOccurred":"2009-01-16","source":{"title":"Madoff's fund may not have made a single trade","url":"https://www.reuters.com/article/topNews/idUSTRE50F0BY20090116/","publication":"Reuters"}},{"id":48749,"text":"FINRA examinations of BLMIS's broker-dealer operations found no evidence of trading on behalf of the investment advisory business.","confidence":"primary","dateOccurred":"2009-01-16","source":{"title":"Madoff's fund may not have made a single trade","url":"https://www.reuters.com/article/world/madoffs-fund-may-not-have-made-a-single-trade-idUSTRE50F0BY/","publication":"Reuters"}},{"id":48768,"text":"BLMIS feeder funds included Fairfield Sentry ($7.5 billion), Tremont Group/Rye Investment Management ($3.1 billion), and Kingate Global Fund ($2.7 billion).","confidence":"secondary","dateOccurred":"2008-12-15","source":{"title":"Bernie Madoff Scandal: Where Are They Now?","url":"https://content.time.com/time/specials/packages/article/0,28804,1971588_1971589_1971594,00.html","publication":"TIME"}},{"id":48753,"text":"BLMIS operated three business units: a market-making business, a proprietary trading business (both referred to as 'House 5' on floors 18–19), and the fraudulent investment advisory business ('House 17' on the 17th floor).","confidence":"primary","dateOccurred":"2008-12-15","source":{"title":"Irving H. Picard v. Saul B. Katz et al — Trustee's Statement of Undisputed Material Facts","url":"https://docs.justia.com/cases/federal/district-courts/new-york/nysdce/1:2011cv03605/379800/102","publication":"Justia Dockets"}},{"id":48745,"text":"BLMIS was placed into SIPA liquidation on December 15, 2008, with Irving H. Picard appointed as Trustee.","confidence":"primary","dateOccurred":"2008-12-15","source":{"title":"Liquidation Proceeding for Bernard L. Madoff Investment Securities LLC Undertaken by Securities Investor Protection Corporation","url":"https://www.sipc.org/news-and-media/news-releases/20081215","publication":"Securities Investor Protection Corporation (SIPC)"}},{"id":48741,"text":"The firm was headquartered at 885 Third Avenue in New York City, known as the Lipstick Building.","confidence":"primary","dateOccurred":"2008-12-15","source":{"title":"The 17th Floor, Where Wealth Went to Vanish","url":"https://www.nytimes.com/2008/12/15/business/15madoff.html","publication":"The New York Times"}},{"id":48742,"text":"BLMIS operated two distinct units: a legitimate broker-dealer (market-making) business occupying the 18th and 19th floors, and a fraudulent investment advisory operation on the 17th floor.","confidence":"primary","dateOccurred":"2008-12-15","source":{"title":"The 17th Floor, Where Wealth Went to Vanish","url":"https://www.nytimes.com/2008/12/15/business/15madoff.html","publication":"The New York Times"}},{"id":20569,"text":"Placed into SIPA liquidation December 15, 2008; Irving H. Picard appointed Trustee.","confidence":"primary","dateOccurred":"2008-12-15","source":{"title":"Madoff Recovery Initiative — Office of the SIPA Trustee","url":"https://www.madofftrustee.com/","publication":"Baker Hostetler / SIPA Trustee"}},{"id":48755,"text":"Customer account statements at the time of collapse showed approximately $65 billion in fictitious balances; actual cash invested (net of withdrawals) was approximately $20 billion in principal losses.","confidence":"secondary","dateOccurred":"2008-12-11","source":{"title":"SEC Charges Bernard L. Madoff for Multi-Billion Dollar Ponzi Scheme","url":"https://www.sec.gov/news/press/2008/2008-293.htm","publication":"U.S. Securities and Exchange Commission"}},{"id":48744,"text":"At the time of collapse, customer account statements showed approximately $65 billion in fictitious balances, while actual principal lost was around $20 billion.","confidence":"secondary","dateOccurred":"2008-12-11","source":{"title":"List of investors in Bernard L. Madoff Investment Securities","url":"https://en.wikipedia.org/wiki/List_of_investors_in_Bernard_L._Madoff_Investment_Securities","publication":"Wikipedia"}},{"id":48743,"text":"The investment advisory business was a massive Ponzi scheme; Madoff confessed to employees that it was insolvent and estimated losses at $50 billion.","confidence":"primary","dateOccurred":"2008-12-11","source":{"title":"Bernard L. Madoff and Bernard L. Madoff Investment Securities LLC (SEC Litigation Release No. 20834)","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-20834","publication":"U.S. Securities and Exchange Commission"}},{"id":20570,"text":"Customer account statements at the time of collapse showed approximately $65 billion in fictitious balances; total cash actually invested by victims (net of withdrawals) was approximately $20 billion in principal losses.","confidence":"secondary","dateOccurred":"2008-12-11","source":{"title":"Madoff investment scandal — Wikipedia","url":"https://en.wikipedia.org/wiki/Madoff_investment_scandal","publication":"Wikipedia"}},{"id":48754,"text":"Madoff confessed to senior employees on December 10, 2008 that the investment advisory business was 'basically a giant Ponzi scheme' and that the firm was insolvent.","confidence":"primary","dateOccurred":"2008-12-10","source":{"title":"SEC Charges Bernard L. Madoff for Multi-Billion Dollar Ponzi Scheme","url":"https://www.sec.gov/news/press/2008/2008-293.htm","publication":"U.S. Securities and Exchange Commission"}},{"id":48767,"text":"Madoff transferred approximately $160 million of personal assets to MSIL in 2007; about $1 billion moved between the US and London entities in 2008.","confidence":"secondary","dateOccurred":"2007-01-01","source":null},{"id":48765,"text":"BLMIS registered as an investment adviser with the SEC only in September 2006, despite managing billions for decades.","confidence":"primary","dateOccurred":"2006-09-01","source":{"title":"Why the SEC Missed Madoff's Con","url":"https://www.propublica.org/article/why-the-sec-missed-madoffs-con-20081216","publication":"ProPublica"}},{"id":48758,"text":"JPMorgan Chase (and predecessor Chemical Bank) was BLMIS's primary banker for over 22 years, from approximately 1986 through the firm's collapse.","confidence":"primary","dateOccurred":"1986-01-01","source":{"title":"Manhattan U.S. Attorney and FBI Announce Deferred Prosecution Agreement with JPMorgan Chase in Connection with Madoff Ponzi Scheme","url":"https://archives.fbi.gov/archives/newyork/press-releases/2014/manhattan-u.s.-attorney-and-fbi-assistant-director-in-charge-announce-filing-of-criminal-charges-against-and-deferred-prosecution-agreement-with-jpmorgan-chase-bank-n.a.-in-connection-with-bernard-l.-madoffs-multi-billion-dollar-ponzi-scheme","publication":"Federal Bureau of Investigation"}},{"id":48746,"text":"JPMorgan Chase (and predecessor Chemical Bank) was BLMIS's primary banker for over 22 years, from 1986 until the firm's collapse.","confidence":"primary","dateOccurred":"1986-01-01","source":{"title":"Manhattan U.S. Attorney And FBI Assistant Director-In-Charge Announce Filing Of Criminal Charges Against And Deferred Prosecution Agreement With JPMorgan Chase Bank, N.A.","url":"https://www.justice.gov/archive/usao/nys/pressreleases/January14/JPMCDPAPR.php","publication":"U.S. Department of Justice"}},{"id":20572,"text":"BLMIS maintained its primary banking relationship with JPMorgan Chase (and predecessor Chemical Bank) from approximately 1986 through the firm's collapse in December 2008 — a continuous 22-year banker relationship.","confidence":"primary","dateOccurred":"1986-01-01","source":{"title":"Manhattan U.S. Attorney And FBI Assistant Director-In-Charge Announce Filing Of Criminal Charges Against And Deferred Prosecution Agreement With JPMorgan Chase Bank, N.A., In Connection With Bernard L. Madoff's Multi-Billion Dollar Ponzi Scheme","url":"https://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-and-fbi-assistant-director-charge-announce-filing-criminal","publication":"U.S. Department of Justice — SDNY"}},{"id":48766,"text":"BLMIS established a London affiliate, Madoff Securities International Ltd. (MSIL), in 1983/1988, which served as a proprietary trading unit for the Madoff family.","confidence":"primary","dateOccurred":"1983-01-01","source":{"title":"Head of Madoff UK arm 'had no idea'","url":"https://www.irishtimes.com/business/head-of-madoff-uk-arm-had-no-idea-1.924934","publication":"The Irish Times"}},{"id":48751,"text":"BLMIS was founded by Bernie Madoff in 1960 as a penny-stock brokerage with $5,000 earned from lifeguarding and sprinkler installation.","confidence":"primary","dateOccurred":"1960-06-15","source":{"title":"Bernie Madoff","url":"https://en.m.wikipedia.org/wiki/Bernie_Madoff","publication":"Wikipedia"}},{"id":48740,"text":"Bernard L. Madoff Investment Securities (BLMIS) was founded by Bernie Madoff in 1960 as a penny stock brokerage.","confidence":"primary","dateOccurred":"1960-06-15","source":{"title":"Bernie Madoff","url":"https://en.wikipedia.org/?curid=60047085","publication":"Wikipedia"}},{"id":48752,"text":"BLMIS registered as a broker-dealer with the SEC on January 19, 1960.","confidence":"primary","dateOccurred":"1960-01-19","source":{"title":"Irving H. Picard v. Saul B. Katz et al — Trustee's Statement of Undisputed Material Facts","url":"https://docs.justia.com/cases/federal/district-courts/new-york/nysdce/1:2011cv03605/379800/102","publication":"Justia Dockets"}},{"id":20571,"text":"The investment-advisory arm of BLMIS, operating from the 17th floor of the Lipstick Building at 885 Third Avenue, was the locus of the Ponzi scheme; the legitimate market-making business operated from the 18th and 19th floors.","confidence":"secondary","dateOccurred":null,"source":{"title":"Bernard L. Madoff Investment Securities — Wikipedia","url":"https://en.wikipedia.org/wiki/Bernard_L._Madoff_Investment_Securities","publication":"Wikipedia"}}],"connections":[{"id":18804,"relationshipType":"contextual proximity in database","description":"These entities appear in proximity within the known entities list, but the documented search results for 'Bernie Sanders' found no court records, lobbying disclosures, or campaign finance data connecting him to this entity.","confidence":"inferential","firstDocumented":"unknown","lastDocumented":null,"other":{"id":9287,"name":"Bernie Sanders","slug":"bernie-sanders","type":"elected_official"}},{"id":17297,"relationshipType":"No Direct Connection","description":"No documented connection between Roger Williams and Bernie Madoff entities found in the provided facts.","confidence":"inferential","firstDocumented":"N/A","lastDocumented":null,"other":{"id":11151,"name":"Roger Williams","slug":"congress-w000816","type":"person"}},{"id":19581,"relationshipType":"major_investor_net_winner","description":"Picower was the single largest net-winner from the BLMIS scheme; estate forfeited $7.2 billion to trustee and U.S. government in December 2010.","confidence":"primary","firstDocumented":null,"lastDocumented":"2010-12-17","other":{"id":11359,"name":"Jeffry Picower","slug":"jeffry-picower","type":"person"}},{"id":19579,"relationshipType":"founder_principal","description":"Madoff founded BLMIS in 1960 and ran it as principal until the December 2008 collapse.","confidence":"primary","firstDocumented":"1960-01-01","lastDocumented":"2008-12-11","other":{"id":11354,"name":"Bernie Madoff","slug":"bernie-madoff","type":"person"}},{"id":18187,"relationshipType":"indirect connection via feeder fund loss","description":"Named in the SDNY SIPA trustee actions over the Tremont/Rye Madoff feeder losses following the BLMIS collapse.","confidence":"primary","firstDocumented":"2008","lastDocumented":null,"other":{"id":12691,"name":"Robert I. Schulman","slug":"robert-i-schulman","type":"person"}},{"id":18186,"relationshipType":"introduced","description":"Introduced Tremont Partners to Bernard L. Madoff in the 1980s, building the foundation of the Tremont/Rye BLMIS feeder cluster","confidence":"primary","firstDocumented":"1980s","lastDocumented":null,"other":{"id":12690,"name":"Sandra Manzke","slug":"sandra-manzke","type":"person"}},{"id":18065,"relationshipType":"feeder_fund_relationship","description":"Kingate Management Limited is the investment-management vehicle for the Kingate Global Fund and Kingate Euro Fund, which were BLMIS feeders.","confidence":"primary","firstDocumented":"unknown","lastDocumented":null,"other":{"id":11572,"name":"Kingate Management Limited","slug":"kingate-management-limited","type":"company"}},{"id":18058,"relationshipType":"investee","description":"Fairfield Sentry Limited was the single largest BLMIS feeder fund, with approximately $7.0 billion of customer money invested with Bernard L. Madoff Investment Securities at the December 2008 collapse.","confidence":"primary","firstDocumented":"2008","lastDocumented":null,"other":{"id":11571,"name":"Fairfield Sentry Limited","slug":"fairfield-sentry-limited","type":"company"}},{"id":18055,"relationshipType":"feeder_fund_exposure","description":"Optimal Strategic US Equity, run by Santander's Optimal unit, was a BLMIS feeder fund that exposed investors to Madoff's Ponzi scheme.","confidence":"primary","firstDocumented":"2009","lastDocumented":null,"other":{"id":11479,"name":"Banco Santander","slug":"banco-santander","type":"company"}},{"id":18050,"relationshipType":"feeder fund parent","description":"Through its wholly owned subsidiary Tremont Group Holdings, MassMutual was the ultimate parent of one of the largest BLMIS feeder organizations at the time of the December 2008 collapse.","confidence":"primary","firstDocumented":"2001","lastDocumented":null,"other":{"id":11476,"name":"Massachusetts Mutual Life Insurance Company","slug":"massachusetts-mutual-life-insurance-company","type":"company"}},{"id":17946,"relationshipType":"regulator","description":"BLMIS registered as a broker-dealer with the SEC on January 19, 1960. The SEC's OIG found the SEC received six substantive complaints about Madoff between 1992 and 2008 but failed to uncover the fraud.","confidence":"primary","firstDocumented":"1960","lastDocumented":null,"other":{"id":391,"name":"Securities and Exchange Commission","slug":"securities-and-exchange-commission","type":"government_agency"}},{"id":17945,"relationshipType":"founder","description":"Andrew Madoff ran the market-making and proprietary trading businesses (House 5) and was not charged with criminal wrongdoing related to the Ponzi scheme.","confidence":"primary","firstDocumented":"2008","lastDocumented":null,"other":{"id":11362,"name":"Andrew Madoff","slug":"andrew-madoff","type":"person"}},{"id":17944,"relationshipType":"founder","description":"Mark Madoff ran the market-making and proprietary trading businesses (House 5) and was not charged with criminal wrongdoing related to the Ponzi scheme.","confidence":"primary","firstDocumented":"2008","lastDocumented":null,"other":{"id":11361,"name":"Mark Madoff","slug":"mark-madoff","type":"person"}},{"id":17943,"relationshipType":"employment","description":"Peter Madoff served as Chief Compliance Officer and Senior Managing Director of BLMIS from 1969 to December 2008 and created false compliance documents.","confidence":"primary","firstDocumented":"1969","lastDocumented":null,"other":{"id":11356,"name":"Peter Madoff","slug":"peter-madoff","type":"person"}},{"id":11289,"relationshipType":"employed_by","description":"DiPascali worked for Madoff at BLMIS for 33 years (1975–2008) and was his closest confidante in operating the Ponzi scheme.","confidence":"primary","firstDocumented":null,"lastDocumented":null,"other":{"id":11357,"name":"Frank DiPascali","slug":"frank-dipascali","type":"person"}},{"id":11163,"relationshipType":"banking_client","description":"BLMIS's primary depository banking relationship — the conduit for victim funds for 22 years (1986–2008). DOJ described JPM as having ignored internal compliance warnings; resolved by 2014 deferred prosecution agreement and $2.6B in forfeiture and civil settlements.","confidence":"primary","firstDocumented":"1986-01-01","lastDocumented":"2008-12-11","other":{"id":150,"name":"JPMorgan Chase","slug":"jpmorgan-chase","type":"company"}},{"id":11162,"relationshipType":"investor","description":"Picower was the single largest net-winner from the BLMIS scheme; estate forfeited $7.2 billion to trustee and U.S. government in December 2010.","confidence":"primary","firstDocumented":null,"lastDocumented":"2010-12-17","other":{"id":11359,"name":"Jeffry Picower","slug":"jeffry-picower","type":"person"}},{"id":11161,"relationshipType":"liquidation_trustee","description":"Picard appointed SIPA Trustee for BLMIS liquidation December 15, 2008; recovered or committed $14.7B+ for victims as of 2024.","confidence":"primary","firstDocumented":"2008-12-15","lastDocumented":null,"other":{"id":11358,"name":"Irving H. Picard","slug":"irving-h-picard","type":"person"}},{"id":11156,"relationshipType":"founder","description":"Madoff founded BLMIS in 1960 and ran it as principal until the December 2008 collapse.","confidence":"primary","firstDocumented":"1960-01-01","lastDocumented":"2008-12-11","other":{"id":11354,"name":"Bernie Madoff","slug":"bernie-madoff","type":"person"}},{"id":19665,"relationshipType":"investment_management_relationship","description":"Rye Select Broad Market XL Portfolio Limited passed leveraged customer capital to Bernard L. Madoff Investment Securities, magnifying BLMIS exposure for downstream investors.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":12689,"name":"Rye Select Broad Market XL Portfolio Limited","slug":"rye-select-broad-market-xl-portfolio-limited","type":"company"}},{"id":19597,"relationshipType":"investment_management_relationship","description":"Tremont Capital Management was the operating manager of the Tremont/Rye family of funds, the second-largest BLMIS feeder organization — approximately $3.3B of customer money invested with Bernard L. Madoff Investment Securities at the December 2008 collapse.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":12687,"name":"Tremont Capital Management","slug":"tremont-capital-management","type":"company"}},{"id":19594,"relationshipType":"investment_management_relationship","description":"Rye Select Broad Market Portfolio Limited passed customer capital in full to Bernard L. Madoff Investment Securities under the unmodified BLMIS strategy.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":12688,"name":"Rye Select Broad Market Portfolio Limited","slug":"rye-select-broad-market-portfolio-limited","type":"company"}},{"id":18068,"relationshipType":"affiliation","description":"Officer of the Kingate feeder fund structure that invested with Madoff's firm","confidence":"secondary","firstDocumented":"unknown","lastDocumented":null,"other":{"id":11575,"name":"Federico Ceretti","slug":"federico-ceretti","type":"person"}},{"id":11263,"relationshipType":"investor","description":"Rye Select Broad Market XL Portfolio Limited passed leveraged customer capital to Bernard L. Madoff Investment Securities, magnifying BLMIS exposure for downstream investors.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":12689,"name":"Rye Select Broad Market XL Portfolio Limited","slug":"rye-select-broad-market-xl-portfolio-limited","type":"company"}},{"id":11262,"relationshipType":"investor","description":"Rye Select Broad Market Portfolio Limited passed customer capital in full to Bernard L. Madoff Investment Securities under the unmodified BLMIS strategy.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":12688,"name":"Rye Select Broad Market Portfolio Limited","slug":"rye-select-broad-market-portfolio-limited","type":"company"}},{"id":11225,"relationshipType":"investor","description":"Tremont Capital Management was the operating manager of the Tremont/Rye family of funds, the second-largest BLMIS feeder organization — approximately $3.3B of customer money invested with Bernard L. Madoff Investment Securities at the December 2008 collapse.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":12687,"name":"Tremont Capital Management","slug":"tremont-capital-management","type":"company"}},{"id":11170,"relationshipType":"feeder_fund","description":"Tremont's Rye Select and Tremont feeder vehicles held approximately $3.3 billion of customer money in BLMIS at the December 2008 collapse — the second-largest single-organization feeder exposure.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":11475,"name":"Tremont Group Holdings","slug":"tremont-group-holdings","type":"company"}},{"id":11169,"relationshipType":"feeder_fund","description":"Optimal Strategic US Equity (Dublin), operated by Banco Santander's Geneva-based Optimal Investment Services, held approximately $2.3 billion of customer assets in BLMIS at the December 2008 collapse — the principal Spanish/Latin American conduit.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":11478,"name":"Optimal Strategic US Equity","slug":"optimal-strategic-us-equity","type":"company"}},{"id":11168,"relationshipType":"feeder_fund","description":"Kingate Global Fund (BVI), advised by FIM Advisers under Carlo Grosso and Federico Ceretti, with its sister Kingate Euro Fund routed roughly $1.7 billion of customer assets into BLMIS by the December 2008 collapse.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":11477,"name":"Kingate Global Fund","slug":"kingate-global-fund","type":"company"}},{"id":11167,"relationshipType":"feeder_fund","description":"FGG sponsored the Fairfield Sentry Fund and related vehicles which together held approximately $7.5 billion of customer money in BLMIS at the December 2008 collapse — the single largest feeder exposure.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":11471,"name":"Fairfield Greenwich Group","slug":"fairfield-greenwich-group","type":"company"}},{"id":11159,"relationshipType":"early_backer","description":"Shapiro was among the earliest BLMIS investors (1960s seed era); family entities returned approximately $625M to the trustee in 2010.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2010-12-07","other":{"id":11360,"name":"Carl Shapiro","slug":"carl-shapiro","type":"person"}}],"contradictions":[],"permalink":"https://www.goblinhouse.net/entity/bernard-l-madoff-investment-securities","timelineUrl":"https://www.goblinhouse.net/entity/bernard-l-madoff-investment-securities/timeline"}