Whitebeam's Madoff Exposure

Whitebeam also got caught with the currently jailed broker Madoff, ultimately suffering a total loss in the same fund, Defender Ltd. Seems like the Defender guys had a pretty strong marketing presence in Sweden as they also managed to get money from the former Icelandic bank Kaupthing in two fund of funds (Katla and Krafla). Total loss there is currently unknown.