Bernie Madoff haunts Korean institutional investors

The Board of Audit and Inspection of Korea (BAI), a unit of the Blue House in Korea, is currently auditing the international asset exposures of the National Pension Service (NPS) and other institutional investors and financial groups. The BAI is looking for different things in different places, and its actions have sparked a range of possible ramifications. In some cases the audits are resulting in some investors being strong-armed into agreeing to avoid future investments in hedge f…