Luxembourg fund Luxalpha, invested via Madoff, was struck off by the CSSF and wound up
Luxalpha SICAV (UBS Luxembourg depositary, Madoff feeder) · Luxembourg investment fund
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
Third-party confirmation
Direct confirmation from the custodian of the securities would show no Madoff holdings.
Can mislead when: Counterparties can collude or ignore requests. A non-response is logged as a gap, never as a pass.
Counterparty existence
Checking the existence of the underlying manager's trades would show none.
Can mislead when: Real companies can be used as pass-throughs. Existence does not prove a real trade, so C6 and C7 still apply.
Governance signals
The depositary's weak controls would show in governance reviews.
Can mislead when: Private companies file late, so these signals are lagging. Kubr uses them to support other flags, not to prove anything alone.
Regulatory & litigation records
CSSF listings and court records would show the later withdrawal and winding-up.
Can mislead when: Court records lag and name spellings vary. A clean record can mean the problem has not reached court yet.
Where Kubr services would have helped
Verified Snapshot
Offered in India- C4 Checking the existence of the underlying manager's trades would show none.
- C8 CSSF listings and court records would show the later withdrawal and winding-up.
- C11 The depositary's weak controls would show in governance reviews.
Valuation context
Offered in India- C4 Checking the existence of the underlying manager's trades would show none.
- C8 CSSF listings and court records would show the later withdrawal and winding-up.
- C11 The depositary's weak controls would show in governance reviews.
Legal diligence support
Offered in India- C8 CSSF listings and court records would show the later withdrawal and winding-up.
- C11 The depositary's weak controls would show in governance reviews.
Promoter profiles
Offered in India- C8 CSSF listings and court records would show the later withdrawal and winding-up.
- C11 The depositary's weak controls would show in governance reviews.
Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.
Same pattern
A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.