Tremont Strikes $1B Deal With Madoff Trustee

Law360, New York (July 28, 2011, 2:54 PM EDT) -- 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....
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