Tremont Strikes $1B Deal With Madoff Trustee

Law360, New York (July 28, 2011, 2:54 PM ET) -- The trustee overseeing the liquidation of Bernard L. Madoff's investment company reached a settlement Thursday with Tremont Group Holdings Inc. — the operator of the Ponzi schemer's second-largest feeder fund — worth just over $1 billion.

Madoff trustee Irving H. Picard filed an adversary proceeding in December accusing Tremont and its funds, parent companies and executives of aiding Madoff by funneling more than $4 billion into the massive scheme run out of Bernard L. Madoff Investment Securities LLC and turning a blind eye to warning signs....
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required