Jacob Schmidt says Madoff's scam a regulatory failure

In a recent interview with Bloomberg Television, Jacob Schmidt, CEO of Schmidt Research Partners, Adjunct Professor of Derivatives and Investments at Webster University London, and consultant to VanMac Group on secondary fund of funds due diligence work, has declared Madoff’s scam a regulatory failure–a situation made all the more ironic by Madoff’s widely broadcast eloquence on the subject.

“The full extent of what Madoff has done may never be fully known,” commented VanMac Group’s Scott MacDonald. “ What we do know so far is that all administration was managed inhouse and auditing processes were well below gold standard.”

“It underpins the need for a thorough due diligence search, such as that undertaken by Greenwich Alternative Investments. An operation like Madoff’s would never have made it through our filters, the strength of which gives our extensive international clientele confidence that in this shaky economic period, they can remain confident that their investment has been thoroughly vetted.”

Read Greenwich Alternative Investments’ media release.