2017 - Movie - Wizard of Lies, Bernie Madoff --- [BonkNote]
2023 - VIDEO-Documentary - Madoff: The Monster of Wall Street --- [BonkNote]
Tremont
2011 0728 - NYT - Settlement of More Than $1 Billion From Madoff-Related Funds, By Reuters - [link]
Mr. Picard has said Tremont, based in Rye, N.Y., which is part of the Massachusetts Mutual Life Insurance Company, was the second-largest “feeder fund” group that funneled money to Mr. Madoff from its own investors.
He sued Tremont for $2.1 billion on Feb. 28, accusing it of missing “red flags” and “blindly relying on Mr. Madoff to drive their funds’ returns” for nearly 15 years.
2017 1024 - GOV (House) - The Federal Government’s Role in the Insurance Industry
1:17 - Capuano - Madoff did things that were Illegal, AIG did not
2009 0831 - SEC Inspector General Report (David Kotz) - Investigation of Failure of the SEC to Uncover Bernard Madoff’s Ponzi Scheme - Public Version - Report No. OIG-509 - 477p
(p43) - 1992 - Brochure - The SEC also obtained a “Fact Sheet” that described the structure of the investments with Avellino & Bienes. King Arthur Account Fact Sheet (undated) by Andrew Copperman,16 (The Fact Sheet), at p. 1, at Exhibit 115. The Fact Sheet, a twopage document resembling a brochure, was produced by Andrew Copperman, and answered a variety of questions about the Avellino & Bienes investment, such as the following:
2009 0707 - Congressional Record - Madoff Victims are Victimized Again, This Time By Our Own Government - Ms. Ros-Lehtinen (R-FLA) - 130p
(p20) - The victims’ plight is compelling.
Think about this, Madam Speaker, irrespective of numerous warnings the SEC received dating back 17 years, all of our Federal agencies stood by and did nothing while thousands of investors deposited their money, usually their life savings, with Bernard L. Madoff Investment Securities.
VIDEO-CSPAN - (Part 2 of 3) - Ackerman/SEC/KanjorskiS
Short - 23:58-Ackerman
Long - 23:58-36:20
Royce - 36:58-
[?] - VIDEO - (Part 3 of 3)
x - 2009 0910 - GOV (Senate) - Oversight Of The Securities And Exchange Commission’s Failure To Identify The Bernard L. Madoff Ponzi Scheme And How To Improve Sec Performance - (CSPAN) Securities Exchange Commission and Madoff Ponzi Scheme
Written Testimony of H. David Kotz - Inspector General of the Securities and Exchange Commission 23p
Senate - Committee on Banking, Housing and Urban Affairs
2009 0922 - GOV (Senate) -
Written Testimony of H. David Kotz - Inspector General of the Securities and Exchange Commission - 18p
Oversight of the SEC’s Inspector General’s Report on the ‘Investigation of the SEC’s Response to Concerns Regarding Robert Allen Stanford’s Alleged Ponzi Scheme’ and Improving SEC Performance
2020 - AP - Money, Manipulation, & Madoff: What are Ponzi Schemes and How to Avoid Becoming Avoid Becoming a Fraud Victim aud Victim, by Nicole Turgeon, Assumption College - 153p
2011 - LC - YALE M. FISHMAN 1998 INSURANCE TRUST v. AGL LIFE ASSURANCE COMPANY, TREMONT GROUP HOLDING, MASSACHUSETTS MUTUAL LIFE INSURANCE CO - "Universal Life Insurance - [Doc 1-64p]
UNITED STATES DISTRICT COURT - EASTERN DISTRICT OF NEW YORK - Case 2:11-cv-00211-JFB -AR
Supreme Court of the State of New York, County of Nassau - Index No. 601094/20 10
2009 - AP - Enablers of Exuberance: Legal Acts and Omissions that Facilitated the Global Financial Crisis, by Jennifer S. Taub - 69p
Another sophisticated investor was Tremont Holdings, Inc.
Tremont is part of the Oppenheimer Funds unit of Massachusetts Mutual Life Insurance Co.
Tremont lost over $3 billion in client assets after acting as a major―feeder‖ to Bernard L. Madoff Investment Securities ponzi scheme.
Apparently, at least half of Tremont‘s assets were invested (via assorted feeder funds) with Madoff.
Tremont attempted to refund money to clients by liquidating other assets, however it was blocked by many ―gates‖ and other restrictions on withdrawals from both private equity and hedge fund positions.505
Clients have sued, claiming that Tremont should have known about the fraud.
Tremont has denied the allegations.
It stands to reason, then that if Tremont is liable, then it failed in its responsibilities as a sophisticated investor.
If Tremont is not liable, then, it shows that sophisticated investors are incapable of monitoring
State Law Securities Cases
In re Tremont Group Holdings, Inc. Securities Litigation, No. 09 Civ. 03137 (S.D.N.Y.).
Motley Rice represents an individual investor in consolidated litigation regarding investments made in Bernard L. Madoff Investment Securities, LLC, through a variable universal life insurance policy.