I blogged about the issue this morning. According to press reports, there were a number of investment advisers who were managing client's money, who in turn invested that money with Madoff.
Those advisers get paid based on the assets in the account, including the assets given to Madoff to invest. Now, investors are questioning those advisers as to how, and why, their funds wound up in a Ponzi scheme.
Add to the mix the other investment advisers and hedge fund managers who are now claiming that they reviewed Madoff's investments or investment strategy and did not believe that anyone could generate the returns that he did.
Investors are going to start asking their advisers, if this adviser understood that the investment was a fraud, why didn't you?
Those advisers get paid based on the assets in the account, including the assets given to Madoff to invest. Now, investors are questioning those advisers as to how, and why, their funds wound up in a Ponzi scheme.
Add to the mix the other investment advisers and hedge fund managers who are now claiming that they reviewed Madoff's investments or investment strategy and did not believe that anyone could generate the returns that he did.
Investors are going to start asking their advisers, if this adviser understood that the investment was a fraud, why didn't you?
