Tremont, which manages a total of $5.8 billion, would have made roughly $62 million this year peddling funds that are solely run by Madoff, who was arrested Dec. 11 after he allegedly confessed to running a “giant Ponzi scheme” that may have bilked investors out of $50 billion. Hedge funds that invested with the 70-year-old Queens, New York-native charged fees to their clients for the task of vetting the fund. [Read more]
It's amazing to me that people or organizations for that matter, would put such large investments into the hands of one man.
This fallout is going to be very very bad. Did ya hear? It's the Dow dropping, as hedge funds continue to unwind or just disappear.
Aimee
"Aim for Answers"
Aimee
"Aim for Answers"
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