If you’ve been following the exploits and downfall of Bernie Madoff and his $50 billion Ponzi scheme, you’ll know about some the high profile “investors” that he’s cheated, ranging from the Wilpon family (the owners of the New York Mets) for $300 million to Steven Spielberg. Other institutions that were tempted by his supposed high return hedge funds are listed here.
Joining the list of A-list suckers is one of China’s most expensive employee Tang Jun (唐骏). The former President of Microsoft China and online entertainment giant Shanda revealed that he too was courted by fund managers that led to his $2.7 million to be flushed toilet.
In his account, Tang explains how over a four year period, after joining Shanda, he was courted by fund managers to the point where they would fly all the way from Hong Kong just to personally deliver him a birthday cake. He finally conceded and subsequently lost 30% of his investment. As a result of his loss, he has completely lost confidence in the international investment community and has decided that China is probably now the best investment.