Tuesday, 9th February 2010

 

18 May 2009 - Press Briefing

Madoff investigation expands to include high-profile victims

The criminal inquiry into who knew about Bernard L. Madoff's gigantic fraud has been broadened to encompass some of his highest-profile investors, sources said, according to a report in The Wall Street Journal.

It is believed that at least eight Madoff investors and associates - including Jeffry Picower and Stanley Chais, two philanthropists who invested heavily with Madoff, and Carl Shapiro, one of the financier’s oldest friends, are being probed by the US attorney's office in Manhattan.

Federal investigators have collected proof they assume will show that Messrs. Picower and Chais specified their expected return levels to Madoff. Their accounts soon would reflect those figures, sources said, as cited in the WSJ report.

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