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The Madoff Middlemen - Liability for Fees on Phantom Profits?

By Mark H. Astarita, Esq.

div xmlns="http://www.w3.org/1999/xhtml"In earlier posts I referenced the a href="http://seclaw.blogspot.com/2008/12/here-they-comemadoff-third-party.html"potential liability of investment advisers/a who put their client's money into Madoff's investments, and the potential liability of investors themselves, who made a profit in Madoff's investments.br /br /The second series of lawsuits is going to be a longer time in coming, since SIPC will first have to sort out the books and records of the firm, figure out who got money, who lost money, and a host of other facts and figures.br /br /But the first series of lawsuits are cranking up, and being fueled by the press. The NYT has an article this morning that points out the huge sums of money the "Madoff Middlemen" made in simply investing their client's money with Madoff as part of the middleman's investment advice...continue to full post

Full post as published by SECLaw.com on December 17, 2008 (boomark / email).