Word: feeder
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...Good to Be True: The Rise and Fall of Bernie Madoff by Erin Arvedlund (Portfolio) carefully details how Madoff's marks, some of them supposedly sharp hedge-fund managers, became feeder funds for Madoff's enterprise by willfully or negligently failing in their due diligence to check out the bogus Madoff claims. "The same people did more research on buying a car than they did on the man who handled their money," she writes...
...Picard, the New York-based lawyer who could have easily doubled for actor Frederic March in film Inherit the Wind, is at the turbulent center of the post-Madoff world, a world that includes multi-billion dollar feeder fund lawsuits, multi-million dollar deals with international banks, and, less grand, the issuing of multi-hundred thousand dollar checks to the nearly 7,000 direct account holders caught up in Madoff's massive Ponzi scheme. (See pictures of the demise of Bernard Madoff...
...last 30 days, Picard has filed six major lawsuits, many against Madoff's largest feeder funds. The combined suits ask for the return of over $10 billion in fraudulent profits. Picard's complaints allege the people running the funds "knew or should have known" Madoff was a fake, simply based on the exorbitant, non-stop returns they received. Suits have been filed against Walter Noel's Fairfield-Greenwich Group, which withdrew $3.2 billion since 1995, Jeffrey Picower's funds, totaling $6.7 billion withdrawn, and against Stanley Chais, whose funds took out over $1 billion since 1995. (See pictures...
Robert Chew is a former investor with Madoff via a feeder fund. He lives in Colorado...
...Flood also got in on the action, with Flood providing assists to Martin each time as she earned the last two tallies of the period.“They definitely do have chemistry,” Flynn said. “Sara’s a really great feeder; she gets a lot of assists because she can really read the defense well. Kaitlin is just a phenomenal scorer, so the combination of that has really helped us in the last two games.”With the offensive spark and a bend-but-not-break defense led by Martino...