Related: Jew-Ron
Madoff debacle hits region's Jewish community
"Group's clients lose $3b in fraud; Now-confessed swindler got MassMutual funds; Investors told 'we were all victimized' by Madoff" by Beth Healy, Globe Staff | December 16, 2008
A hedge fund group owned by Massachusetts Mutual Life Insurance Co., of Springfield, has lost all of its clients' money - more than $3 billion - to Bernard L. Madoff, the New York trader who confessed last week to losing $50 billion of his investors' funds in a Ponzi scheme.
I'd look in the Holy Land.
The hedge fund group, Rye Investment Management, had retained Madoff as the sole manager of its funds, which reported assets of $3.5 billion in April. Rye is a division of MassMutual's Tremont Group Holdings Inc. in Rye, N.Y., which places wealthy clients and institutions, such as pension funds, into hedge funds and with exclusive investors like Madoff.
In one letter to clients Friday, Rye Investment said, "Needless to say, our level of anger and dismay over the apparent betrayal by Mr. Madoff and his organization of his 14-year relationship with Tremont is immeasurable."
The MassMutual unit is one more name on the list of sophisticated investors around the world who were ensnared in Madoff's alleged fraud, a list that includes prominent individuals in Boston and New York, from Boston Properties real estate magnate Mortimer Zuckerman to Nobel Laureate Elie Wiesel.
Boston philanthropists such as the Shapiro and Goldberg families have lost millions, as have sports figures like Norman Braman, a former owner of the Philadelphia Eagles football team. Braman, a former director of the $9.7 million Elie Wiesel Foundation for Humanity, said he feared the nonprofit had substantial losses....
One fraud ripping off another, boo-hoo!
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MassMutual's is one of the nation's largest financial companies, with $500 billion in assets. In addition to insurance operations, MassMutual owns a mutual fund company, the OppenheimerFunds, money manager Babson Capital Management, as well as smaller niche entities such as Tremont....
Madoff drew elite investors from New York and Boston to Palm Beach, Fla., and eventually from around the world, with steady double-digit returns that he allegedly delivered for decades....
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How a pyramid scheme takes shape
Madoff's method
It's amazing to me how the Zionist-controlled press totally buries the Jewish connections.
Yes, I am reading them for you, folks!
