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madoffarrestpr

madoffarrestpr

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Published by mangopony

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Published by: mangopony on Dec 13, 2008
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06/17/2009

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United States Attorney Southern District of New York 
FOR IMMEDIATE RELEASEDECEMBER 11, 2008CONTACT: U.S. ATTORNEY'S OFFICEYUSILL SCRIBNER 
,
REBEKAH CARMICHAEL
,
JANICE OHPUBLIC INFORMATION OFFICE(212) 637-2600FBIJIM MARGOLIN, MONICA McLEANPUBLIC INFORMATION OFFICE(212) 384-2720, 2715
INVESTMENT ADVISER AND FORMER CHAIRMAN OF NASDAQ STOCK MARKET ARRESTED FOR MULTIBILLION DOLLAR PONZI SCHEME
LEV L. DASSIN, the Acting United States Attorney forthe Southern District of New York, and MARK J. MERSHON, theAssistant Director-in-Charge of the New York Office of theFederal Bureau of Investigation ("FBI"), announced that BERNARDL. MADOFF -- the founder of Bernard L. Madoff InvestmentSecurities LLC, a registered investment adviser, and formerChairman of the NASDAQ Stock Market -- was arrested today andcharged with one count of securities fraud. According to theComplaint filed in Manhattan federal court:BERNARD L. MADOFF is the founder of Bernard L. MadoffInvestment Securities LLC (the "Firm"), a securities brokerdealer with its principal office in New York City. According tothe Firm's website, the Firm: (a) "is a leading internationalmarket maker. The firm has been providing quality executions forbroker-dealers, banks and financial institutions since itsinception in 1960"; (b) "[w]ith more than $700 million in firmcapital, Madoff currently ranks among the top 1% of US Securitiesfirms; and (c) "Clients know that Bernard Madoff has a personalinterest in maintaining an unblemished record of value,fair-dealing, and high ethical standards that has always been thefirm's hallmark."According to two senior employees of the Firm (the"Senior Employees"), MADOFF conducts certain investment advisorybusiness for clients that is separate from the firm's proprietarytrading and market making activities. According to the SeniorEmployees, MADOFF ran his investment adviser business from aseparate floor in the New York offices of Bernard L. Madoff

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