UBP Puts Redemptions On Ice

Publish date:
Updated on

Investors don't know it yet but apparently a decision was made internally last night to suspend redemptions at Union Bancaire Privée for 3/31/09, with the funds being "restructured." Since *someone* went public with his pyramid scheme, requests for money to be returned have hit $7.5 billion.
Related: UBP's Primer On Madoff