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Greek victim of Bernard Madoff

17 December 2008 / 18:12:13  GRReporter
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The heir of the beer wealth Fix Carlos-Ioannis Fix has lost between 400 and 600 million Euros in the financial pyramid Wallstreet, invented by former Nasdaq president Bernard Madoff. The list of the people stricken by one of the biggest frauds in US history includes names of big banks and charity organizations worldwide.

In Greece the biggest losses sustained the financial services company Fix Asset Management, which is owned by the heir of the Greek historical brewery Fix Carlos-Ioannis Fix. The company offers services in several funds, which are served by Madoff Bernard L. Madoff Investment Securities. “We are shocked by the complexity of the case Madoff. The collapse of Bernard L. Madoff Investment Securities directly put ni danger our funds and basically we don’t own them anymore,” says the press release of the company.

Fix Asset Management’s funds are governed by the law office of Reed Smith LLP now. According to the Greek media, Fix Asset Management’s funds have been following the fund of funds system and were governing capitals of third companies. The system was developed and applied by Bernard Madoff himself. Fix Asset Management was managing over 2 billion dollars, owned 12 funds of funds, and participated in over 300 hedge funds. The company was founded during 1982 by Carlos-Ioannis Fix together with a heir of a rich ship family.

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