Violator Management CEO Chris Lighty recently shared with the New York Post that he is one of the victims of former businessman Bernie Madoff‘s investor fraud scandal.
Although Lighty would not share how much he lost in the scam, it is said that as a result of the fraud, clients of Bernard L. Madoff Investment Securities LLC have lost in total around $50 billion dollars.
“Nothing to talk about. It’s not life-threatening,” Lighty told the Post. “Not worth the ink you would waste.”
Up until now, rumors stated it was 50 Cent, one of Lighty‘s clients, who had lost millions in the fraud.
For years, Lighty has managed artists such as 50 Cent, Missy Elliott, Busta Rhymes, Diddy, and more. Most recently, Lighty created Brand Asset Group, a branding company that aims to increase revenue through proper and aggressive branding of artists.
According to the U.S. Attorney’s Office in the southern district of New York, Madoff allegedly admits to defrauding clients for up to $50 billion in an intricate investment scheme committed over a number of years.
Other well known clients of Madoff‘s who claim to have been affected by the scam include Kevin Bacon, Steven Spielberg, and Zsa Zsa Gabor. Wells Fargo and Co. claims they wrote off $294 million, because Madoff‘s alleged scheme defrauded their customers and left them unable to pay loans.