Hollywood Hit In Madoff Scandal

December 26. 2008

Steven Spielberg

The Bernard Madoff Ponzi scheme scandal has its tentacles everywhere, including Tinseltown. It is being reported that film director Steven Spielberg and screenplay writer Eric Roth ("Forrest Gump" and "The Curious Case Of Benjamin Button") are among the Hollywood names mentioned as investors in Madoff’s company.

NYU Claims $24 Million Loss as Madoff-Related Lawsuits Mount

The claim adds NYU to a growing list of alleged victims of Madoff, including Liliane Bettencourt, the world’s wealthiest woman and the daughter of L’Oreal SA founder Eugene Schueller; Spanish billionaire Alicia Koplowitz; U.S. filmmaker Steven Spielberg; Nobel laureate Elie Wiesel; and Yeshiva University.

Madoff, 70, was arrested Dec. 11 at his Manhattan home after allegedly confessing to his sons that his business was a “giant Ponzi scheme” that may have cost investors $50 billion, according to an FBI complaint. Madoff has been charged by federal prosecutors with one count of securities fraud and faces as much as 10 years in prison if convicted. Clients of Madoff had about $36 billion with his firm, according to a Bloomberg tally that may include some double counting.

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