Tuesday, April 28, 2009

Recovery efforts

We have been covering as of lately the attempts to recover funds from the Madoff ponzivaganza (see 1, 2) that crash landed 6 months ago, yet it seems that they were not as successful as hoped. Not so much.

Today though, a new era dawns, one that we realize that the money is out there. * Two points of interest, again for those of you not actually hitting those links,

1. recovered 25.5 m out of what was once worth 1 b **

2. liquidator recovered 1b so far, 3/4 of which is from returned redemptions ***

* Just not as much as we hoped for and by far not as much as was swindled

** probably the correct wording should be , what was once thought to be worth…

*** actually not recovered yet, but you better send it back or else…

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