first feeder fund to be charged in Madoff case

CFA General
#1

guess which one … http://www.reuters.com/article/domesticNews/idUSTRE5304HS20090401

#2

Good. Tremont’s next.

#3

Those feeder funds were making hundreds of millions for doing absolutely nothing. 15 Billion AUM x 2% + performance fees = ~300mil + Hope these guys get sued for all they’re worth. EDIT: They are going after the auditors too. This was pretty bad too, did they just signed their names on the report and said “All Done”?

#4

BiPolarBoyBoston Wrote: ------------------------------------------------------- > EDIT: They are going after the auditors too. This > was pretty bad too, did they just signed their > names on the report and said “All Done”? Nope, they went to play golf after.

#5

Auditors don’t play golf. They sit in the blow-up pool in their backyards in central New Jersey.

#6

LOL… wow. THat’s pretty funny. Paramus is going DOWN

#7

Serves them right… it’s funds like this that give hedge funds a bad name. I mean, they must have worked a total of 2 hours a week, tops, and earned hundreds of millions of dollars. Not including the time they spent giving Madoff sexual favours for letting them invest in his ponzi scheme.