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Reports from Florida to Minnesota included profiles of ordinary investors who gave Madoff their money. Some had been friends with him for decades, others were able to invest because they were a friend of a friend. They told stories of losing everything from $40,000 to an entire nest egg worth well over $1 million. They join a list of more powerful investors that have come forward, all worried about the extent of their losses. The roster of names include Philadelphia Eagles owner Norman Braman, New York Mets owner Fred Wilpon and J. Ezra Merkin, the chairman of GMAC Financial Services, among others. Beyond U.S. hedge funds, more corporate names disclosed exposure to Madoff. Late Sunday, some of Europe's biggest banks acknowledged they, too, were exposed to Madoff's investment fund. Switzerland's Reichmuth & Co. said the private bank has $327 million at risk. It told investors that they "sincerely regret" being affected. French bank BNP Paribas estimated its exposure Madoff's fund could lead to 350 million euros ($467 million) in losses. In a brief statement Sunday, Paribras said it has "no investment of its own" in Madoff's hedge funds but "does have risk exposure to these funds through its trading business and collateralized lending to funds of hedge funds." Spain's Grupo Santander SA, Europe's second-largest banking consortium, said its clients had an exposure of 2.33 billion euros ($3.1 billion) to Madoff's investment funds, mostly through the Optimal Strategic US Equity fund, according to reports.
Japan's largest brokerage, Nomura Holdings, said Monday it has 27.5 billion yen, or about $306 million, in exposure to the Ponzi scheme.
[Associated
Press;
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