# Bernard L. Madoff Investment Securities LLC

Bernard L. Madoff Investment Securities LLC is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 1960
- **Assets under management:** Undisclosed
- **Website:** www.madoff.com

## Regulatory record

- **CRD number:** 2625
- **SEC file number:** 801-67134
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/2625

## About

BERNARD L. MADOFF INVESTMENT SECURITIES LLC is an SEC-registered investment adviser in NEW YORK, NY, since 2006. The firm manages approximately $17.1 billion in assets. It is registered with the SEC.

## People

- Bernard L. Madoff — Founder

## Questions

### What was the investment strategy claimed by Bernard Madoff?

Madoff claimed to use a split-strike conversion strategy: buying blue-chip stocks and hedging with options on the S&P 100 index. This strategy was entirely fabricated; no actual trades were executed (per the SEC, 2009).

### How did the Madoff scheme avoid detection for decades?

Madoff cultivated a reputation for being a savvy trader and only accepted capital from select investors, many introduced by feeder funds. His firm provided its own custody and trade confirmation, allowing him to fabricate statements (per The Wall Street Journal, 2008). The SEC received multiple credible whistleblower tips but did not thoroughly investigate.

### Who were the primary feeder funds in the Madoff scheme?

Major feeders included Fairfield Greenwich Group, J. Ezra Merkin's Ascot Partners and Gabriel Capital, and Kingate Management (per Bloomberg, 2009). These funds channeled billions of dollars into Madoff's scheme, taking fees for their role.

### What was the total loss to investors in the Madoff fraud?

The court-appointed trustee, Irving Picard, recovered about $14.5 billion for victims, but estimated total investor losses at $64.8 billion based on principal and lost investment returns (per the Madoff Trustee, 2010).

### Did Madoff's sons have a role in the firm?

Bernard Madoff's sons, Mark and Andrew Madoff, worked at the firm and were executives. They reported their father's confession to federal authorities in December 2008 and were not charged in the scheme. Mark Madoff died by suicide in 2010 (per The New York Times, 2010).

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- [Financial Aurora](https://altss.com/profile/financial-aurora-llc)
- [Keystone Wealth Management Services](https://altss.com/profile/keystone-wealth-management-services-inc)

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Last updated: 2026-08-10T23:49:37.812Z

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