Fraudster reveals assets by deadline |
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Wall Street financier Bernard Madoff has met a deadline to reveal what remains of his assets after coming clean about about masterminding a massive investment fraud.
"We have received the court-ordered list of assets," said John Heine, at the Securities and Exchange Commission.
It was, however, unclear whether victims of Madoff's alleged fraud would learn the contents of the inventory.
The court "does not authorise us to make the list public," Heine said.
Investors seeking compensation after losing billions with Madoff say they want to learn how much he still has.
"I think one of the fears here is that much of this money may be in offshore funds," Columbia Law School professor John Coffee told Bloomberg. "There is the danger that foreign regulators and foreign creditors may seek to seize that money if the names and sources are made public."
Madoff was required by a federal court in New York to submit by midnight on Wednesday lists of "bank accounts, brokerage accounts, investments, business interests, loans, lines of credit, and real and personal property".
Some direct investors may be eligible for protection under a federal insurance scheme. The Abu Dhabi Investment Authority reportedly invested in Madoff's scheme indirectly in 2005.
Meanwhile, a group of thieves calling themselves 'The Educators' have returned a statue stolen from Madoff. The Associated Press reported that the $10,000 copper sculpture turned up on Wednesday.
A note attached read: "Bernie the Swindler, Lesson: Return stolen property to rightful owners. Signed by - The Educators."
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