BS

Bernard L. Madoff Investment Securities​‌‌‌‌‍‍​‍‍‍​‍‌‍‍‌‌‌‌‍‍​‍‍‍​

company archived
Wall Street market-maker; vehicle of the Madoff Ponzi scheme
Tracked:Primary corporate vehicle of the largest documented Ponzi scheme; banked at JPMorgan 1986–2008.
EDITORIAL SUMMARY — AI-generated from public records

Broker-dealer and investment-advisory firm founded by Bernie Madoff in 1960, headquartered at the Lipstick Building, 885 Third Avenue, NYC. Liquidated under SIPA after the 2008 collapse. The 17th-floor "investment-advisory" operation was the locus of the Ponzi scheme.

4
Facts
9
Connections
0
Sources
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Connection Map
Key Connections
← Bernie Madoff person
founder_principal
Madoff founded BLMIS in 1960 and ran it as principal until the December 2008 collapse.
← JPMorgan Chase company
banking_client
BLMIS's primary depository banking relationship — the conduit for victim funds for 22 years (1986–2008). DOJ described JPM as having ignored internal compliance warnings; resolved by 2014 deferred prosecution agreement and $2.6B in forfeiture and civil settlements.
→ Irving H. Picard person
liquidation_trustee
Picard appointed SIPA Trustee for BLMIS liquidation December 15, 2008; recovered or committed $14.7B+ for victims as of 2024.
→ Jeffry Picower person
major_investor_net_winner
Picower was the single largest net-winner from the BLMIS scheme; estate forfeited $7.2 billion to trustee and U.S. government in December 2010.
Facts (4)
Data Freshness
Fresh Last update: 0d ago · Avg age: 0d
Confidence Tiers: Primary Source — cross-referenced government/corporate filings Pending Review — sourced but not independently verified AI Inference — analytical hypothesis from cross-referencing
Documented Records (4)
Sourced from government databases, press reports, and corporate filings. Not yet independently verified.
Primary Source Placed into SIPA liquidation December 15,​‌‌‌‌‍‍​‍‍‍​‍‌‍‍‌‌‌‌‍‍​‍‍‍​ 2008; Irving H. Picard appointed Trustee.
Partially Corroborated Customer account statements at the time of collapse showed approximately $65 billion in fictitious balances; t​‌‌‌‌‍‍​‍‍‍​‍‌‍‍‌‌‌‌‍‍​‍‍‍​otal cash actually invested by victims (net of withdrawals) was approximately $20 billion in principal losses.
Date: 2008-12-11 Added: 23 Apr 2026 ↗ SOURCE: Madoff investment scandal — Wikipedia
Partially Corroborated The investment-advisory arm of BLMIS, operating from the 17th floor of the Lipstick Building at 885 Third Avenue,​‌‌‌‌‍‍​‍‍‍​‍‌‍‍‌‌‌‌‍‍​‍‍‍​ was the locus of the Ponzi scheme; the legitimate market-making business operated from the 18th and 19th floors.
Primary Source BLMIS maintained its primary banking relationship with JPMorgan Chase (and predecessor Chemical Bank) from approximately 1986 through the firm's collapse in December 2008 — a continuous 22-year banker relationship.
All Connections (9)
→ Carl Shapiro person
early_backer secondary
Shapiro was among the earliest BLMIS investors (1960s seed era); family entities returned approximately $625M to the trustee in 2010.
→ Jeffry Picower person
major_investor_net_winner primary
Picower was the single largest net-winner from the BLMIS scheme; estate forfeited $7.2 billion to trustee and U.S. government in December 2010.
→ Irving H. Picard person
liquidation_trustee primary since 2008-12-15
Picard appointed SIPA Trustee for BLMIS liquidation December 15, 2008; recovered or committed $14.7B+ for victims as of 2024.
feeder_fund secondary
FGG sponsored the Fairfield Sentry Fund and related vehicles which together held approximately $7.5 billion of customer money in BLMIS at the December 2008 collapse — the single largest feeder exposure.
feeder_fund secondary
Tremont's Rye Select and Tremont feeder vehicles held approximately $3.3 billion of customer money in BLMIS at the December 2008 collapse — the second-largest single-organization feeder exposure.
→ Kingate Global Fund company
feeder_fund secondary
Kingate Global Fund (BVI), advised by FIM Advisers under Carlo Grosso and Federico Ceretti, with its sister Kingate Euro Fund routed roughly $1.7 billion of customer assets into BLMIS by the December 2008 collapse.
feeder_fund secondary
Optimal Strategic US Equity (Dublin), operated by Banco Santander's Geneva-based Optimal Investment Services, held approximately $2.3 billion of customer assets in BLMIS at the December 2008 collapse — the principal Spanish/Latin American conduit.
← JPMorgan Chase company
banking_client primary since 1986-01-01
BLMIS's primary depository banking relationship — the conduit for victim funds for 22 years (1986–2008). DOJ described JPM as having ignored internal compliance warnings; resolved by 2014 deferred prosecution agreement and $2.6B in forfeiture and civil settlements.
← Bernie Madoff person
founder_principal primary since 1960-01-01
Madoff founded BLMIS in 1960 and ran it as principal until the December 2008 collapse.
Sources (0)
No sources.