Madoff Gives List of Assets to SEC
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Thursday, January 1, 2009
NEW YORK, Dec. 31 -- Bernard L. Madoff gave the Securities and Exchange Commission a list of his personal assets Wednesday, but investors may have to wait to learn whether the filing contained any clues as to the whereabouts of their missing billions of dollars.
The disgraced money manager, now under house arrest, faced a court-ordered deadline of Dec. 31 to turn over an accounting of his homes, stock holdings, bank accounts and business interests.
The list was also supposed to include the names and locations of any bank or brokerage accounts holding whatever remains of his clients' money.
The SEC confirmed Wednesday evening that it had received the filing, but it declined to reveal details or make the documents available to journalists. The list was not filed publicly in any of the courts handling the Madoff case, and SEC spokesmen said no decision had been made as to whether part or all of the asset disclosure would be made public.
Madoff's attorney, Ira Sorkin, said his client was abiding by the court order, but the attorney would not comment further.
Any Madoff assets disclosed in the filing or unearthed by investigators could be tapped to make restitution to victims of what authorities say was a massive Ponzi scheme.
Madoff's personal wealth is said to be substantial. He had mansions in the Hamptons and Palm Beach, Fla., a penthouse in Manhattan and a handful of luxury yachts.
His firm operated proprietary stock trading desks in New York and London that were supposedly investing the family's fortune. Still, those assets would likely cover only a fraction of the billions that investors entrusted to Madoff.
