Picard estimates $21.2bn lost through Madoff scheme (Fund News)
Irving Picard, the trustee in charge of recovering assets from Bernard Madoffâ??s fraudulent investment operations, said on Wednesday $21.2bn had been lost through Madoff's Ponzi scheme, an amount far higher than was thought as recently as June.
Ex JPMorgan traders launch Sothic distressed debt fund (Fund News)
The former head of JPMorganâ??s credit proprietary trading desk and a team of senior traders from the bank have set up a new London-based hedge fund to invest in the debt of troubled European and UK companies.
Madoff friend Picower found dead in pool (Fund News)
Palm Beach billionaire and philanthropist Jeffry Picower, described as the biggest beneficiary of Bernard Madoffâ??s fraud, died on Sunday after he was found lying at the bottom of the pool at his home, police said.