KERANAMU DINAR DAN DIRHAM dibaca DOLLAR DAN STERLING

Ramai pemimpin umat Islam berhujah menggunakan hadith yang dikatakan lemah iaitu "Kefakiran itu hampir kepada kekufuran". Di sana juga terdapat Hadith Nabi s.a.w yang bermaksud " Anak Adam itu jika diberi satu lembah emas, nescaya ia mahukan satu lagi". Dan ia akan terus mencari sehingga................mati. Juga terdapat sebuah hadith Nabi saw yang panjang, lebih kurang bermaksud .." Bukanlah kefakiran yang Aku takut berlaku ke atas kamu, tetapi yang paling Aku takuti ialah kekayaan dunia yang melimpah ruah keatas kamu, yang dengannya kamu berlumba (mengejar harta hingga lupa kepada Allah) seperti mana umat-umat lain sebelum kamu berlumba (mengejarnya) sehingga mereka binasa sepertimana kamu juga akan binasa"..Au kama Qal.

Kegawatan ekonomi dunia hasil dari tempias kegawatan ekonomi USA serta kenaikan harga bahan api yang mendadak dek kerana kerakusan spekulator komoditi minyak mentah tempoh hari kini kian terasa. Di negara kita harga petrol telah beberapa kali diturunkan oleh Kerajaan Pusat namun harga barang makanan dan perkhidmatan kian meningkat. Alasan yang diberikan oleh peniaga ialah peningkatan kos operasi.

Sistem perbankan Dunia termasuk di Malaysia yang menindas pengguna, peminjam dan penyimpan dengan pelbagai caj perkhidmatan, kadar keuntungan kepada pelabur yang sangat rendah tetapi pada waktu yang sama mengenakan kadar faedah yang tinggi kepada peminjam. Tetapi kini, kebenaran telah terserlah dengan berlakunya krisis mata wang, krisis sub prime mortgage dan paling terakhir ialah PONZI skim atau skandal Maddof yang dijalankan oleh keluarga Maddof, bersembunyi dan bertopengkan "dana hedge" serta "perniagaan saham".
Beginilah akhirnya jika sesuatu itu diperolehi dengan cara yang haram dan menzalimi orang lain atau merampas hak orang lain. Tidak berkat atau tiada barokah. Titik.

Bank yang terjejas dengan skandal Maddof seperti di bawah.

HSBC HOLDINGS

HSBC Holdings has potential exposure of about $1.5 billion, the Financial Times reported, citing unnamed people close to the situation. The exposure is from loans it provided to institutional clients, mainly hedge funds of funds, that wanted to invest with Madoff, the FT reported




GRUPO SANTANDER SA
Spain's largest bank said its investment fund Optimal has a 2.33 billion euro ($3.05 billion) exposure to Madoff Securities.

MAN GROUP

It is exposed through RMF, its institutional fund of funds business, which has approximately $360 million invested in two funds that are directly or indirectly sub-advised by Madoff Securities.


BBVA

Spain's second-largest bank said its international operation has about 30 million euros exposure to Madoff, and it sees a maximum potential loss from Madoff-linked investments of 300 million euros ($404 million)

ASCOT PARTNERS

According to a Wall Street Journal report, the fund where former GMAC chairman Jacob Ezra Merkin is a money manager has an exposure of $1.8 billion

ACCESS INTERNATIONAL ADVISORS

According to a report by Bloomberg, Access has an exposure of $1.4 billion.



AXA SA
It has negligible exposure to Madoff, well below 100 million euros.








BARCLAYS

Any exposure for British bank Barclays to Madoff would be "minimal," a person familiar with the matter said, but Barclays declined to comment.



UNION BANCAIRE PRIVEE

Swiss bank that invests in funds of hedge funds has lost about 1 billion francs ($850 million), according to Le Temps, citing unnamed banking sources



ROYAL BANK OF SCOTLAND GROUP

Royal Bank of Scotland Group said it had exposure through trading and collateralized lending to funds of hedge funds invested with Madoff, with a potential loss of around 400 million pounds ($597.9 million)


NATIXIS

Natixis said it could have a 450 million euro ($602 million) indirect exposure to Madoff

BNP PARIBAS

France's largest listed bank said it has a potential 350 million euro ($464.3 million) exposure.



REICHMUTH & CO

Swiss private bank said its fund of funds Reichmuth Matterhorn had an exposure to investments linked to Madoff that amounted to about $325 million.

NOMURA HOLDINGS

Nomura Holdings said it had a 27.5 billion yen ($303 million) exposure related to Madoff, but the impact on its capital would be limited.

UNICREDIT SpA

Italy's second-biggest bank said its own exposure is around 75 million euros ($101 million), while in its Pioneer Investments unit, some funds "are exposed to Madoff indirectly through feeder funds."



SOCIETE GENERALE
Said its exposure is negligible, below 10 million euros.

MAXAM CAPITAL MANAGEMENT

The fund has lost about $280 million on funds invested with Madoff, according to a Wall Street Journal report.

EIM GROUP

Le Temps reported that EIM Group, a fund of hedge funds, said it has a $230 million exposure.

FAIRFIELD SENTRY LTD

The $7.3 billion hedge fund run by Walter Noel's Fairfield Greenwich Group had accounts with Madoff Investment Securities

KINGATE GLOBAL FUND

The $2.8 billion hedge fund run by Kingate Management Ltd had invested in Madoff Investment Securities.

UBS

The investment bank unit of the Swiss financial group has a limited and insignificant counterparty exposure, its spokesman told Reuters




BENEDICT HENTSCH

Swiss private bank said its exposure to products linked to Madoff amounted to 56 million francs ($47 million), or less than 5 percent of assets under management.

BRAMDEAN ALTERNATIVES

UK asset manager, headed by well-known fund manager Nicola Horlick, said almost 10 percent of its holdings were exposed to Madoff. Bramdean said it had two holdings that maintain trading accounts with Bernard L. Madoff Investment Securities that represented 9.5 percent of its net asset value at end-October.

BANESTO

Banesto said it has insignificant exposure, but declined to disclose the size of exposure.


Refer HERE.

Posting saya yang lalu bertarikh 14/12/08 di SINI .

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SKIM PAK MAN TELO JUGA WUJUD DI AMERIKA

FBI dan SEC telah mendapati En Madoff melalui firmanya Bernard L. Madoff Investment Securitites menjalankan skim Ponzi bersaiz mega , sejenis penipuan di mana pelabur di peringkat awal dibayar dengan wang yang diperolehi dari pelaburan orang masuk kemudian sehingga tiada lagi dana yang mampu dikumpul dan akhirnya gulung tikar. Skim ini boleh juga dipanggil sebuah piramid yang runtuh apabila tidak dapat menampung pembayaran "dividen" mereka yang menjadi ahli di hujung-hujung.

En Madoff bukan menjalankan "dana hedge" di mana portfolio terletak pada bank dan firma broker seperti Goldman Sachs dan JPMorgan. Menurut satu afidavit yang dibuat oleh En Madoff melalui agen FBI, fraud kali ini berjumlah USD$50 billion, sekaligus menjadikannya kes penipuan kewangan yang terbesar. Madoff telah diikat jamin sebanyak USD$10 juta.

Di negara kita wujud dari masa ke semasa skim labu peram, Pak Man Telo, Saham Internet, dan pelbagai lagi jenis "perniagaan" menggunakan konsep OPM (other people's money)- guna duit orang lain untuk memulakan perniagaan atau nak menjadi kaya.
Penerangan tentang Skim Ponzi di SINI

Pelabur kelihatan berkerumun di lobi pejabat Madoff

The Federal Bureau of Investigation and S.E.C. said that Mr. Madoff’s firm, Bernard L. Madoff Investment Securities, ran a giant Ponzi scheme, a type of fraud in which earlier investors are paid off with money raised from later victims — until no money can be raised and the scheme collapses. Mr. Madoff was not running an actual hedge fund, but instead managing accounts for investors inside his own securities firm. The difference, though seemingly minor, is crucial. Hedge funds typically hold their portfolios at banks and brokerage firms like JPMorgan Chase and Goldman Sachs.

According to an affidavit sworn out by federal agents, Mr. Madoff himself said the fraud had totaled approximately $50 billion, a figure that would dwarf any previous financial fraud. He is to be released tonight on $10 million bond.
Now Accused of Fraud, Wall St. Wizard Had His Skeptics

By ALEX BERENSON and DIANA B. HENRIQUES
December 12, 2008
THE NEW YORK TIMES
For years, investors, rivals and regulators all wondered how Bernard L. Madoff worked his magic.
But on Friday, less than 24 hours after this prominent Wall Street figure was arrested on charges connected with what authorities portrayed as the biggest Ponzi scheme in financial history, hard questions began to be raised about whether Mr. Madoff acted alone and why his suspected con game was not uncovered sooner.

As investors from Palm Beach to New York to London counted their losses on Friday in what Mr. Madoff himself described as a $50 billion fraud, federal authorities took control of what remained of his firm and began to pore over its books.

But some investors said they had questioned Mr. Madoff’s supposed investment prowess years ago, pointing to his unnaturally steady returns, his vague investment strategy and the obscure accounting firm that audited his books.

Despite these and other red flags, hedge fund companies kept promoting Mr. Madoff’s funds to other funds and individuals. More recently, banks like Nomura, the Japanese firm, began soliciting investors for Mr. Madoff internationally. The Securities and Exchange Commission, which investigated Mr. Madoff in 1992 but cleared him of wrongdoing, appears to have been completely surprised by the charges of fraud.

Now thousands, possibly tens of thousands, of investors confront losses that range from serious to devastating. Some families said on Friday that they believed they had lost all their savings. A charity in Massachusetts said it had lost essentially its entire endowment and would have to close.

According to an affidavit sworn out by federal agents, Mr. Madoff himself said the fraud had totaled approximately $50 billion, a figure that would dwarf any previous financial fraud.

At first, the figure seemed impossibly large. But as the reports of losses mounted on Friday, the $50 billion figure looked increasingly plausible. One hedge fund advisory firm alone, Fairfield Greenwich Group, said on Friday that its clients had invested $7.5 billion with Mr. Madoff.

The collapse of Mr. Madoff’s firm is yet another blow in a devastating year for Wall Street and investors. While Mr. Madoff’s firm was not a hedge fund, the scope of the fraud is likely to increase pressure on hedge funds to accept greater regulation and transparency and protect their investors.

On Thursday, the Federal Bureau of Investigation and S.E.C. said that Mr. Madoff’s firm, Bernard L. Madoff Investment Securities, ran a giant Ponzi scheme, a type of fraud in which earlier investors are paid off with money raised from later victims — until no money can be raised and the scheme collapses.

Most Ponzi schemes collapse relatively quickly, but there is fragmentary evidence that Mr. Madoff’s scheme may have lasted for years or even decades. A Boston whistle-blower has claimed that he tried to alert the S.E.C. to the scheme as early as 1999, and the weekly newspaper Barron’s raised questions about Mr. Madoff’s returns and strategy in 2001, although it did not accuse him of wrongdoing.

Investors may have been duped because Mr. Madoff sent detailed brokerage statements to investors whose money he managed, sometimes reporting hundreds of individual stock trades per month. Investors who asked for their money back could have it returned within days. And while typical Ponzi schemes promise very high returns, Mr. Madoff’s promised returns were relatively realistic — about 10 percent a year — though they were unrealistically steady.

Mr. Madoff was not running an actual hedge fund, but instead managing accounts for investors inside his own securities firm. The difference, though seemingly minor, is crucial. Hedge funds typically hold their portfolios at banks and brokerage firms like JPMorgan Chase and Goldman Sachs. Outside auditors can check with those banks and brokerage firms to make sure the funds exist.

But because he had his own securities firm, Mr. Madoff kept custody over his clients’ accounts and processed all their stock trades himself. His only check appears to have been Friehling & Horowitz, a tiny auditing firm based in New City, N.Y. Wealthy individuals and other money managers entrusted billions of dollars to funds that in turn invested in his firm, based on his reputation and reported returns.

Victims of the scam included gray-haired grandmothers in Florida, investment companies in London, and charities and universities across the United States. The Wilpon family, the main owners of the New York Mets, and Yeshiva University both confirmed that they had invested with Mr. Madoff, and a Jewish charity in Massachusetts said it would lay off its five employees and close after losing nearly all of its $7 million endowment. Other investors included prominent Jewish families in New York and Florida.

On Friday afternoon, investors and lawyers for investors with Mr. Madoff packed Judge Louis L. Stanton’s courtroom at federal court in Manhattan, hoping to question lawyers for Mr. Madoff and the S.E.C. But a deputy for Judge Stanton canceled the hearing, leaving investors with few answers. Several investors said they were planning to file lawsuits against the firm in the hope of recovering some money.

Based on the vagueness of the complaints against Mr. Madoff, his confession, as detailed in court filings, seems to have taken the F.B.I. and S.E.C. by surprise. Investigators have not explained when they believe the fraud began, how much money was ultimately lost and whether Mr. Madoff lost investors’ money in the markets, spent it, or both. It is not even clear whether Mr. Madoff actually made any of the trades he reported to investors.

The F.B.I. and S.E.C. have also not said whether they believe Mr. Madoff acted alone. According to the authorities, Mr. Madoff told F.B.I. agents that the scheme was his alone. He worked closely with his brother, sons and other family members, many of whom have retained lawyers.

Also likely to face very difficult questions are the hedge funds, investment advisers and banks that raised money for Mr. Madoff. At least some big investment advisers steered clients away from putting money with Mr. Madoff, believing the returns could not be real.

Robert Rosenkranz, principal of Acorn Partners, which helps wealthy clients choose money managers, said the steadiness of the returns that Mr. Madoff reported did not make sense, and the size of his auditor raised further concerns.

“Our due diligence, which got into both account statements of his customers, and the audited statements of Madoff Securities, which he filed with the S.E.C., made it seem highly likely that the account statements themselves were just pieces of paper that were generated in connection with some sort of fraudulent activity,” Mr. Rosenkranz said.

Simon Fludgate, head of operational due diligence for Aksia, another advisory firm that told clients not to invest with Mr. Madoff, said the secrecy of his strategy also raised red flags. And Mr. Madoff’s stock holdings, which he disclosed each quarter with the Securities and Exchange Commission, appeared to be too small to support the size of the fund he claimed. Mr. Madoff’s promoters sometimes tried to explain the discrepancy by explaining that he sold all his shares at the end of each quarter and put his holdings in cash.

“There were no smoking guns, but too many things that didn’t add up,” Mr. Fludgate said.

However, the S.E.C. had already investigated Mr. Madoff and two accountants who raised money for him in 1992, believing they might have found a Ponzi scheme. “We went into this thing just thinking it might be a huge catastrophe,” an S.E.C. official told The Wall Street Journal in December 1992.

Instead, Mr. Madoff turned out to have delivered the returns that the investment advisers had promised their clients. It is not clear whether the results of the 1992 inquiry discouraged the S.E.C. from examining Mr. Madoff again, even when new red flags surfaced. Lawyers at the S.E.C. did not return calls.

Meanwhile, Fairfield Greenwich Group, whose clients have $7.5 billion invested with the Madoff firm, said it was “shocked and appalled by this news.”

“We had no indication that we and many other firms and private investors were the victims of such a highly sophisticated, massive fraudulent scheme.”

At the court hearing, an individual investor, who declined to give his name to avoid embarrassment, expressed a similar sentiment.

“Nobody knows where their money is and whether it is protected,” the investor said.

“The returns were just amazing and we trusted this guy for decades — if you wanted to take money out, you always got your check in a few days. That’s why we were all so stunned.”

Zachery Kouwe and Stephanie Strom contributed reporting.

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