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Madoff Submits List of Assets 

01 January 2009

Wall street investor Bernard Madoff, who is accused of swindling up to $50 billion from clients around the world, has met a court-ordered deadline to submit a list of his assets.

The Securities and Exchange Commission confirmed Wednesday that federal regulators had received the list, but the agency declined to reveal details.

Bernard Madoff, 17 Dec 2008
Bernard Madoff (File)
The information could help determine how much money defrauded investors can recover.

Authorities charged Madoff with securities fraud earlier this month for allegedly running what is known as a "pyramid scheme."  Prosecutors say Madoff illegally used money from new investors to pay previous ones, luring clients with what seemed to be a steady source of profits.

Separately, thieves on Wednesday returned a statue stolen from Madoff and attached a note to it.  The note, from a group calling itself "The Educators," said "Return stolen property to rightful owners."

A local newspaper in the southern U.S. state of Florida, The Palm Beach Post, said the $10,000 sculpture showed up near a country club where Madoff was a member.  The piece was reported missing on December 22.


Some information for this report was provided by AFP, AP and Reuters.

 


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