Bank Medici controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2009
Bank Medici's involvement in the Madoff investment scandal
Bank Medici was the investment manager for Thema International Fund, which invested with Bernard Madoff. After the scheme collapsed, reports placed the bank's exposure to Madoff-linked investments between approximately $2.1 billion and $3 billion. The bank was placed under government supervision and later lost its Austrian banking license.
2009
Alleged referral-fee relationship examined in Massachusetts
Massachusetts securities authorities cited an alleged $526,000 referral-fee payment linked to Madoff investments, Cohmad Securities, and Sonja Kohn. Kohn denied the allegation, while the authorities sought records and other relief in proceedings concerning Cohmad.