Entity: Zsa Zsa Gabor
Exposure: As much as $10 million
Date of disclosure: Jan. 26
Notes: A lawyer for Gabor said she may have lost as much as $10 million.
Forensics accountants looking into the missing money believe they were
invested with Madoff through a third-party money manager. The loss was
noticed about a week ago.

Entity: New York University
Exposure: $24 million
Date of disclosure: Jan. 7
Notes: NYU filed a lawsuit Dec. 24 claiming J. Ezra Merkin turned over his
investment responsibilities to Madoff's funds and lost $24 million of the
school's money. The suit names as defendants Merkin's Ariel Fund Ltd.; the
fund's investment manager, Gabriel Capital Corp.; and Fortis Bank. An NYU
lawyer said the school invested $94 million in Ariel, a partnership between
Merkin and Fortis, in the mid-1990s. A lawyer for Merkin said the school
only invested $30 million and made $60 million. Ariel plans to liquidate
due to Madoff-related losses, but a temporary restraining order prohibits
assets from being transferred out of the fund.

Entity: Elie Wiesel Foundation For Humanity
Exposure: $15.2 million
Date of disclosure: Dec. 24
Notes: The foundation, established to combat anti-Semitism, said
"substantially all" of its assets were invested with Madoff.

Entity: Fire and Police Pension Association Of Colorado
Exposure: Had $60 million invested with Fairfield Greenwich until six
months ago
Date of disclosure: Dec. 19
Notes: The pension fund has $2.5 billion under management.

Entity: International Olympic Committee
Exposure: $4.8 million
Date of disclosure: Dec. 19
Notes: The IOC's exposure represents about 1% of its total investment
portfolio. Organizing committee confirmed they will be able to meet their
obligations.

Entity: New York Law School
Exposure: $3 million through Ascot Partners
Date of disclosure: Dec. 16
Notes: The school invested the money through its endowment entity. The
school filed an investor lawsuit against J. Ezra Merkin, Ascot Partners and
BDO Seidman.

Entity: Fortis (NL) NV (30086.AE)
Exposure: Up to EUR1 billion
Date of disclosure: Dec. 15
Notes: n/a

Entity: Jewish Community Foundation of Los Angeles
Exposure: $18 million via Common Investment Pool
Date of disclosure: Dec. 15
Notes: Investment represents less than 5% of foundation's assets.

Entity: Wunderkinder Foundation
Exposure: Steven Spielberg confirmed the foundation sustained losses.
Date of disclosure: Dec. 15
Notes: n/a

etc. etc. etc

Madoff-Interview: «Es ist unmöglich, die Regeln zu brechen»
In einem Archiv-Video erklärt der Wallstreet-Betrüger Bernard Madoff, dass es «so gut wie unmöglich» sei, die Finanzkontrollen zu umgehen.

By David Walker - Of FINANCIAL NEWS

Beleaguered investors face a "complete loss" from a scheme at the center of a major U.S. fraud case, which is likely to highlight their tendency not to question the legitimacy of big gains and ultimately lead to tighter regulation if the alleged fraud is proved.
A number of prominent funds of hedge funds are believed to have invested money in portfolios established by Bernard Madoff, a securities trader and investment adviser who was arrested yesterday before appearing at a Manhattan court charged with securities fraud.
U.S. authorities claimed Madoff told employees at Madoff Investment Securities earlier this month that the investment advisory activities of his business had been "a giant Ponzi scheme."
Christopher Miller, chief executive of London hedge fund ratings agency Allenbridge Hedgeinfo, said: "Some very big investor names are involved in this. The scheme could only work if enough investors were subscribing for him to pay money out. Some of the world's biggest hedge funds have been hit by this. There will be a monumental impact for the hedge fund industry, it could be larger then Enron.
"Some investors in Madoff's funds face 100% write-downs on the money they invested, they will suddenly be nursing full write-downs in December. When people realize the magnitude of this it will be fizzing around the stratosphere."
One asset manager based in Switzerland, home to many high-net-worth individuals who invest in funds of hedge funds, said: "Everyone's talking about this in Geneva. Several wealthy investors could be facing big losses."
Funds of hedge funds are already facing losses of 19.1% from their investments this year, according to the non-investible performance index from data providers Hedge Fund Research. This combined with investor withdrawals have left them with 14% fewer assets than they started with this year, and $140 billion, or 17%, less than their peak level in the second half of this year.
Miller said: "This is about the credulousness of investors to give the benefit of the doubt to good performance. What has caused all this to come to the surface is really net redemptions from the industry, because Ponzi schemes need net inflows to work. Some investors have the tendency to turn a blind eye to other possibilities when they get good news. But the impact of what has happened will be absolutely huge."
Miller said tighter regulation of the $1.6 trillion industry could result if the alleged fraud is proven.
Commentators have said losses from the fraud Madoff is alleged to have conducted could run to $50 billion. This scale of loss would make it the largest in corporate history.
The Federal Bureau of Investigation has filed a criminal complaint that said Madoff lost "billions of dollars" on investments he made on behalf of wealthy individuals. It alleged that he had deceived investors by claiming he had made gains, while paying those redeeming money with funds supplied by new investors.
Madoff's lawyer Dan Horwitz told Bloomberg on Thursday: "We will fight to get through this unfortunate set of events. He is a person of integrity."