Madoff-Linked Mystery Firm Sosnik Bell Handled More Clients


After reporting this morning that a Bernie Madoff victim was pushed to use accounting firm Sosnik Bell, we’ve since uncovered more Madoff clients that also employed this mysterious firm based in Fort Lee, New Jersey. In addition to our original tipster, there are at least five other clients we’ve found:

  • The Kaufman Foundation in Muskegon, MI had money with Madoff and paid Sosnik $1,130 according to this form
  • The Charles & Candice Nadler Foundation in Excelsior, MN paid Sosnik at least $725.
  • The Sidney & Esther Rabb Foundation in Boston, MA  paid Sosnick (sic) & Co. $680.
  • The Julius J. Leavitt Foundation in Georgetown, TX paid Sosnick $785. See page 43 of this form (.pdf)
  • The Aaron Foundation, based in Boston, which we discussed this morning, paid $725 to Sosnik.

An unidentified commenter to the first post also says he or she used Sosnik. Again, we can’t vouch for the identity of the commentator, but there’s nothing paranoid or bizarre sounding about it:

When we invested with Madoff, we were told that it would be easier to have their accountant prepare our Madoff-related paperwork, which they would in turn forward to our accountant. We were two of the “lucky ones” who were allowed to invest b/c of connections, and were told that Sosnik and Bell did this for everyone and, b/c the Madoff stuff was so complicated, they were experts in it and it made the most sense and would be most efficient.

Finally, we have placed several calls and emails throughout the day to Sosnik and affiliated partners. None of our calls or email have been returned.

If anyone knows more, please let us know. ([email protected], voicemail: 866-994-TIPS, FAX#: 212-929-0467). More as we get it.

(picture via Tuppaware_oo1)