{"id":6196,"date":"2017-09-08T15:43:15","date_gmt":"2017-09-08T20:43:15","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1763"},"modified":"2022-05-19T09:53:54","modified_gmt":"2022-05-19T14:53:54","slug":"thema-international-reaches-687m-settlement-madoff-ponzi-scam","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/thema-international-reaches-687m-settlement-madoff-ponzi-scam\/","title":{"rendered":"Thema International Reaches $687M Settlement Over Madoff Ponzi Scam"},"content":{"rendered":"

Bernard L. Madoff Investment Securities LLC trustee Irving H. Picard announced that a settlement has been reached for $687M with Thema International Fund for its ties to the multibillion-dollar Madoff Ponzi Scam<\/a>. Now, a court must approve the agreement.<\/p>\n

According to Bloomberg<\/em>, the \u201cIrish investment fund funneled $1.1B\u201d to the Ponzi scam that bilked thousands of investors, including those who were with offshore feeder funds, of billions of dollars over several decades. The $687M is representative of all the funds transferred from Madoff\u2019s securities firm to Thema International prior to the former\u2019s collapse, in addition to 19.26% of the withdrawals beyond that time period.<\/p>\n

Thema International Fund belongs to a number of offshore entities with ties to Madoff friend and Austrian banker Sonja Kohn and the Benbasset family of Switzerland. Picard contends that Kohn and the Benbassets granted Madoff key access to funds as his Ponzi scam began to fail.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bernard L. Madoff Investment Securities LLC trustee Irving H. Picard announced that a settlement has been reached for $687M with Thema International Fund for its ties to the multibillion-dollar Madoff Ponzi Scam. Now, a court must approve the agreement. According to Bloomberg, the \u201cIrish investment fund funneled $1.1B\u201d to the Ponzi scam that bilked thousands […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3792,1],"tags":[2568],"class_list":["post-6196","post","type-post","status-publish","format-standard","hentry","category-ponzi-scams","category-uncategorized","tag-madoff-ponzi-scam"],"yoast_head":"\nThema International Reaches $687M Settlement Over Madoff Ponzi Scam — Investor Lawyers Blog — September 8, 2017<\/title>\n<meta name=\"description\" content=\"Bernard L. 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