SIPC Exposes Phony "Look-alike" Web Site Targeting Madoff Victims
WASHINGTON, D.C. - March 9, 2010 - The Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund mandated by Congress to protect the customers of insolvent brokerage firms, said today that it is alerting international regulators about a "look-alike" Web site for a fictitious organization that is mimicking the SIPC Web site in an apparent attempt to target Madoff victims. The so-called "International Securities Investor Protection Corporation (I-SIPC.com)" copies several aspects of the SIPC Web site artwork and structural design ... (more)
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SIPC Statement on Lawsuit Filed by BLMIS Investors
WASHINGTON, D.C. – February 24, 2010 – Stephen Harbeck, president of the Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund authorized by Congress to help investors at failed brokerage firms, issued the following statement today: "From the outset of the Bernard L. Madoff Investment Securities LLC (Madoff) liquidation proceeding, the Securities Investor Protection Corporation has made it clear that our No. 1 goal is to make sure that every eligible Madoff investor receives every penny that he is or she is entitled to receive per the recovery process. We have a great deal of empathy for the Madoff victims. That is why we have worked around the clock for more than a year to expedite this matter despite the unprecedented complexities arising from the Web of deceit spun by Mr. Madoff ..." … (more)
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SIPC Statement on "Net Equity" Court Hearing
WASHINGTON, D.C. – February 2, 2010 – Stephen Harbeck, president of the Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund authorized by Congress to help investors at failed brokerage firms, issued the following statement today: "Regarding the question of 'net equity', for which a hearing is being held today at the United States Bankruptcy Court for the Southern District of New York, we believe
the calculation being used by Irving H. Picard, the court-appointed trustee for the liquidation of Bernard L. Madoff Investment Securities LLC of New York, NY, is correct …" … (more)
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