RCB Fund Services
From WorldCom to Madoff, RFS has a History of Firsts
Helping Victims Recover from Unlawful Conduct.
Our team is uniquely familiar with securities markets, and victim compensation programs. We handle all aspects of an administration and distribution from start to finish in-house, enabling us to control the pace and quality of our processes. Our processes are rigorous and involve multiple levels of review to eliminate false and overstated claims, so that real victims can enjoy far larger recoveries.
Accuracy
Committed to insuring accurate recoveries for victims of securities fraud.
Experience
Decades of experience and a history of firsts, from WorldCom to Madoff.
Compassion
A people-first approach that prioritizes victims of unlawful conduct and fraud.
Innovation
Dedicated to information security and technical innovation.
Paying the Right People the Right Amounts.
Our team is uniquely familiar with securities markets, and victim compensation programs. We handle all aspects of an administration and distribution from start to finish in-house, enabling us to control the pace and quality of our processes. Our processes are rigorous and involve multiple levels of review to eliminate false and overstated claims, so that real victims can enjoy far larger recoveries.
Madoff: The Largest Ever Ponzi Fraud
RFS evaluated over 68,000 claims from victims of the fraud at Madoff Securities in 136 countries. These claims involved more than 500,000 investment transactions involving nearly $80 billion in claimed losses arising through investments through over 1,200 investment vehicles. Everything about history’s largest global fraud involved large scale – investments, losses and recoveries. We were able to trace and analyze the movement of tens of billions in investor cash moving through over 100 countries, and utilizing every type of financial product including derivatives. Ultimately, we approved over 42,600 claims from both direct and indirect investors who suffered fraud losses exceeding $10 billion. Our payments occurred faster, and we delivered a higher percentage recovery than the parallel bankruptcy proceeding attained. We developed an innovative payment structure and combined it with delivering cash to real victims, not intermediaries. We achieved the largest possible recovery percentages, while also equalizing recoveries among victims.
A People First Approach Backed by the Experience of RFS Has Helped Millions of Investors Receive Real Recoveries.
RFS maintains outstanding investor support services. Incoming investor inquiries go to highly experienced customer service personnel, as we pride ourselves in providing outstanding service to fraud victims.
RFS Offers Deep Expertise in a Variety of Areas.
RFS develops custom databases for each of our cases. These advanced database solutions provide the benefits of automated claim computation and audit, while being integrated with our proprietary electronic claim filing portals. Our sophisticated systems are backed by professionals with a wide range of expertise in every aspect of claim administration including legal, investment analysts, data specialists, customer service, audit and control and others. We control every phase of the process from plan design through payment, and we have been entrusted with paying billions of dollars swiftly and accurately.
Settlement Administrations
Receiverships & Bankruptcies
Fund Management and Distribution Services
Claims
Processing
Document Retention Services
Digital Assets and Cryptocurrencies
Data
Management
Digital
Outreach
Notice
Campaigns
Customer Support Center
RFS will have distributed over $9 billion in programs involving approximately four million victims located in more than 120 countries. We have processed claims in almost a dozen languages, and we have built websites and claim filing portals in multiple languages. We pay claims in both USD and in key foreign currencies, using a variety of payment technologies.
The cornerstone of our approach to each administration is making certain that we pay the right people the right amount. RFS continues its journey of innovation and breaking new ground. We have evaluated billions in claims involving derivatives, and we have administered cases involving cryptocurrencies.
A Leader in Digital Assets & Cryptocurrency
We have real world experience evaluating digital assets and administering settlements involving cryptocurrencies. While digital assets have unique properties, crypto-related cases involve the same demands for accuracy, efficiency and technological expertise. We believe our experience with digital assets is beyond that of any other firm.
Decades of Specialized Expertise
RFS offers an array of specialized administration, distribution, data management, analytic, and professional services backed by decades of experience. RFS is an expert in the administration of high-volume, highly complex, claim programs.
RFS Has a Storied History of Fighting for Victims of Unlawful Investment Conduct.
Our founder Richard Breeden has a long history of tackling tough problems with candor and a consistent dedication to excellence. Our RFS team embodies these qualities. We hold ourselves accountable for delivering the greatest possible payout to victims of unlawful conduct. Because we handle every aspect of a case from initial programming to check issuance in house, we control delivery times, application of technology and output quality. We deploy precise and efficient analytics, backed by effective controls over cyber security and claim computation. We have been able to unravel the most complex financial transactions in order to be certain that claims are genuine, properly valued and not duplicative. We have addressed the most complicated situations with advanced technology and professionals with deep expertise.
The Hon. Richard C. Breeden | House Testimony on Stolen Pandemic Loan Funds
Mr. Breeden testified before the House Small Business Committee offering private sector solutions to recouping stolen pandemic loan funds.
Early in his career, Mr. Breeden was the principal architect of President George H. W. Bush’s program to restructure the Savings and Loan industry to protect the safety of more than $1.2 trillion in deposits. He served as Chairman of the U.S. Securities and Exchange Commission from 1989-1993.
The senior executives at RFS combine over 150 years’ experience in capital markets, regulation, IT systems, claims analysis and related disciplines.
RCB Fund Services | Madoff Victim Fund
Richard C. Breeden, RCB Fund Services, and the Madoff Victim Fund featured on CNBC’s American Greed: Biggest Cons.
Richard Breeden | Squawk on the Street
Richard C. Breeden Sits Down with CNBC’s Squawk on the Street to discuss the SEC and the Path to IPO’s.
RFS continues to abide by the principles that defined Richard Breeden’s tenure with the SEC. Our team takes pride in supporting a mission three decades in the making; helping investors recover from the impact of unlawful conduct and delivering the maximum possible recoveries. Our approach is defined by technology and professional expertise devoted to producing highly accurate and dependable.
Richard C. Breeden & Co. LLC
Mr. Breeden founded a professional services firm to provide independent consulting services involving capital markets regulation, corporate monitoring, forensic investigations into corporate financial fraud, unraveling of Ponzi schemes, corporate governance issues, and evaluating internal controls and ethics and compliance systems. The two firms routinely work together on challenging assignments.
RCB Fund Services
17 Technology Place
East Syracuse, NY 13057
Phone: (315) 251-6000
Fax: (315) 463-5874
Have a question about a claim?
