The Palm Beach Post
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Madoff’s black book is out: Here’s the client list

The exhaustive list of the victims of alleged Wall Street swindler Bernie Madoff finally published by federal investigators Wednesday reads like a who’s who of Palm Beach.

Take Bernard Marden, for example.

Until today, the quiet former chairman of the Revco pharmacy chain was mostly known for selling his oceanfront mansion in Palm Beach in 2005 for a whopping $35 million.

He figures prominently on the list, with at least 13 accounts opened with the Bernard L. Madoff Investment Securities. Those include a trust for his grandchildren.

There’s a rumor he lost $300 million. It’s not true, he said.

(Click below for the entire list and more)

“That’s wrong,” he said with a snicker. “It’s much lower. But I can’t comment further.”

In all, 569 accounts on the 163-page list are owned by people from Palm Beach, West Palm Beach and North Palm Beach. And the local names are intermingled with those of celebrities nationwide, A-listers like Hall of Fame pitcher Sandy Koufax, actor Kevin Bacon (A Few Good Men, Mystic River) and World Trade Center developer Larry Silverstein.

Palm Beacher Ray Floyd – Yes, the golfer — lost some cash she invested with Palm Beacher Madoff. Floyd owns in a $14 million-mansion on Plantation Road. He and his socialite wife, Maria, are both on the list.

Neither returned calls for comment, but this could be the second time that Floyd is taken for a ride by a shady investment company. The West Palm Beach-based KL, which lost $213 million in 2006, reportedly had him as a client.

Susan Markin, the town councilwoman? She, too, lost dough in Madoff’s $50 billion Ponzi scheme, although she says it was just a small amount of her portfolio. Her ex-husband, however, is in for some big money. Taxi cab heir David Markin opened five accounts.

The deceased philanthropist Arthur Meyer, who gave his name to the waterfront amphitheater in West Palm and was known to make $1 million donations to nonprofits, and his wife, Sydelle, have 10 accounts with Madoff’s firm. Arthur Meyer died in October, two months before the scandal broke.

Sydelle’s home number was not in service Thursday.

Melvin and Barbara Nessel were also noted philanthropists. They gave tens of millions over the years, including a $10 million gift to Massachusetts General Hospital in Boston. The two are also deceased, but their estate owns as many as 20 investment accounts with Madoff.

Someone who picked up the phone at their old home hung up when asked about the Madoff funds.

Another name that pops up is Robert Meister. The retired insurance exec is a well-known figure on the Palm Beach nightscape. His son, Todd, made news in 2004 for his three-month marriage to Nicky Hilton, Paris’ sister.

Dad couldn’t be reached.

The names of several active businessmen well versed in the financial world are surprisingly on the list, too.

They include Benjamin Gordon, founder of the Palm Beach-based BG Strategic Advisors. He didn’t want to be quoted, but it’s clear he isn’t happy. His company, after all, is an investment banking consulting firm.

The name of one of the bigwigs at the local office of PricewaterhouseCoopers, William Fong, is there, too. Fong didn’t comment.

Well-known CPA Seth Lipson’s name was on nine accounts at Madoff’s firm. He didn’t return calls to explain whether the money was his or clients’.

Another high-profile accounting firm ended up on the list, too. Rampell & Rampell co-founder Richard Rampell explained that one of its clients was a Madoff investor. He declined to name the client.

Other notables: Breakers Row condo association member Diane Belfer; deceased prominent Palm Beach Country Club member Bennett Berman; and the accounting firm of Caler Donten Levine in West Palm Beach. Partner Joel Levine didn’t return calls.

Of course, we already knew about Nine West founder Jerome Fisher; Madoff operative Bob Jaffe, who’s said to be holed up at The Breakers because he’s worried about being home; and his father-in-law, apparel entrepreneur Carl Shapiro, 95. The latter may be out more than $500 million. Combined and including the three men’s extended families, they may have owned more than 100 accounts at Madoff Securities.

Click here for the entire list

13 Comments »

  1. Comment by Nicholas Fatino — February 5, 2009 @ 2:28 pm

    How ironic that actor Kevin Bacon is on the list. I guess that “Six degrees of Kevin Bacon” even applies to the Madoff scandal. Hahaha…

  2. Comment by Thank you Judge — February 5, 2009 @ 2:57 pm

    This Made-Off character could not have done this all alone as he claims.

    Why is he still in his Park Avenue Apartment, when petty thieves regularly stay at the Palm Beach Stockade, at citizen expense.

    Where did he hide the stolen billions?

    He apparently did not trading.

    So it was simply stolen it seems.

    Who is he blackmailing for Judicial Protection?

  3. Comment by Barbara — February 5, 2009 @ 4:14 pm

    The Madoff scandal has to be a systemic problem. Many more people must be involved. Remember the phrase, ” If it’s too good to be true it is”. How is it that so many people got bilked? There were red flags.

  4. Comment by Dobie Gillis — February 5, 2009 @ 5:00 pm

    Get real. Those persons on the list are Not victims. They are complicit accomplices. And greedy.

  5. Comment by James — February 6, 2009 @ 8:07 am

    I just love it.

    The rich thought they could invest and make huge money doing nothing.
    The average person is not allowed to invest where the rich do.
    So they got what they deserve and I hope they lost everything.

    The only reason the Revco guy would not comment on how much he lost. He does not want people to know he stole Millions from Revco along with the other Executives whiole employees live hand to mouth.

    I hope they lost everything and are homeless.

    These people are disgusting and thieves.

    You dont make millions shuffling papers unless you STEAL IT.

    I hope this wipes out all the Mansion owners that think the entire Beach belongs to them.

    When the DEPRESSION really sinks in and it will.

    These people will not survive, they will end their lives just as they did in the Depression.

    TO BAD

  6. Comment by luv420 — February 7, 2009 @ 3:35 pm

    I love reading about rich people getting hurt. It’s justice for all their swaggering and flaunting.

  7. Comment by Richard — February 9, 2009 @ 2:25 pm

    In a Ponzi, the money is usually erased at tha end, when the perpetrator attemps to keep it going, and pays out all the declining incoming working capital as regular dividends, and returns to those wanting their money back.

  8. Comment by Maureen — February 17, 2009 @ 9:07 am

    I find it difficult to see these people scammed.
    Some of them were giving to charities because other people did not, they did. Unfortunately this might backfire on us, small people who had improved schools, hospitals, and other charities which benefited our society. It kept a lot of criminal activities off the streets in your and my neighborhood. It makes me sad.
    Hopefully Mr Obama might be able (he has a LOT to do) to step up to the plate.

  9. Comment by Frank — April 2, 2009 @ 2:11 pm

    I couldn’t have been happier to see Bernard Marden on this list. This miserable excuse for a human being hired me to work in his home, then wanted to pay me partially off the books so he could save paying payroll taxes. When I eventually resigned he wouldn’t pay my final 2 weeks salary. Karma’s a b*tch isn’t it Bernie?

  10. Comment by Zlmcpnjn — June 22, 2009 @ 12:24 pm

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  11. Comment by is herbal phentermine safe — July 4, 2009 @ 5:39 am

    Great site. Good info.

  12. Comment by fubernie — October 13, 2009 @ 2:13 pm

    Bernie Marden tried to fuck me over to. What a asshole cheap bastard.

  13. Comment by Donna — December 16, 2009 @ 7:17 pm

    so what’s the deal about this Marden guy?

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