Comments on: Is Your Money Safe? FDIC and SIPC Coverage Basics http://www.businesspundit.com/is-your-money-safe-fdic-and-sipc-coverage-basics-2/ Entrepreneurship, Startup Companies and Business Philosophy Sat, 20 Mar 2010 01:45:14 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Lela Davidson http://www.businesspundit.com/is-your-money-safe-fdic-and-sipc-coverage-basics-2/comment-page-1/#comment-11407 Lela Davidson Wed, 17 Dec 2008 15:44:57 +0000 http://www.businesspundit.com/is-your-money-safe-fdic-and-sipc-coverage-basics-2/#comment-11407 Mr. Ranzer, It's my understanding that in a case of fraud you are protected (up to $500,000) by SIPC (so long as the firm was a member) but that in general it takes longer to recover assets. See this press release from SIPC on the Madoff case: http://www.sipc.org/media/release15Dec08.cfm I hope this helps. Mr. Ranzer,
It’s my understanding that in a case of fraud you are protected (up to $500,000) by SIPC (so long as the firm was a member) but that in general it takes longer to recover assets.

See this press release from SIPC on the Madoff case:
http://www.sipc.org/media/release15Dec08.cfm

I hope this helps.

]]> By: RANZER, JOANNE AND DAVID http://www.businesspundit.com/is-your-money-safe-fdic-and-sipc-coverage-basics-2/comment-page-1/#comment-11342 RANZER, JOANNE AND DAVID Mon, 15 Dec 2008 13:54:05 +0000 http://www.businesspundit.com/is-your-money-safe-fdic-and-sipc-coverage-basics-2/#comment-11342 What happens when fraud is involved, as in the Maddoff case unfolding? If I've rec'd monthly statements for years, actual transaction slips for all trades, withdrawn monies intermittently without delay for years, deposited monies receipted in a timely fashion, is there any protection for the $850,000 my last statement reflects? How do I know if there is any cash balance really there? How do I know if there were ever real transactions executed? How would I get a snapshot of what securities and cash were long in the account when the SEC froze the assets in the account? Pls advise. Thanks. David Ranzer, 561-265-0773; hubie316@aol.com What happens when fraud is involved, as in the Maddoff case unfolding? If I’ve rec’d monthly statements for years, actual transaction slips for all trades, withdrawn monies intermittently without delay for years, deposited monies receipted in a timely fashion, is there any protection for the $850,000 my last statement reflects? How do I know if there is any cash balance really there? How do I know if there were ever real transactions executed? How would I get a snapshot of what securities and cash were long in the account when the SEC froze the assets in the account? Pls advise. Thanks. David Ranzer, 561-265-0773; hubie316@aol.com

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