Madoff Judge OKs Forfeiture Law-Based Disbursement

Law360, New York (September 24, 2009, 7:25 PM EDT) -- A federal judge has given prosecutors the go-ahead to reimburse investors of Bernard L. Madoff's Ponzi scheme through forfeiture law rather than restitution statutes, but one group of victims has taken umbrage at the prosecutors' plan to ask the trustee liquidating Madoff’s defunct firm to assist in the disbursement.

Agreeing with prosecutors that the number of identifiable victims is so large that restitution findings would be impractical, and considering that the government had already secured $177 billion in forfeiture, Judge Denny Chin ruled Thursday that prosecutors...
To view the full article, register now.