Israeli insurers have suffered from Bernard L. Madoff
21 January 2009On Sunday Israeli insurance companies have let out reports on the possible losses in connection with the swindle of American financier Bernard Madoff, which has been disclosed last week.
Swindle, in result of which the general losses of the deceived investors can reach $50 billion, have been already named the largest swindle in Wall Street’s history. Last Thursday one of the famous American financiers of the Jewish origin, former director of stock exchange NASDAQ, Bernard L. Madoff has been arrested by the federal authorities of the USA. Before this he has admitted to the confidants, that dividends were paid to investors of his funds due to attraction of means of new investors, instead of from profits, i.e. the company Bernard L. Madoff Investment Securities LLC, actually, represented a financial pyramid.
The 70-year-old financier has been released under the monetary mortgage in $10 million, all accounts of his company are blocked, independent external managing directors have been asked to manage the company and find way out. Numerous Madoff’s investors are to face bankruptcy.
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