Ex-SEC Top Atty Puts Madoff Profit Claims To Rest

Law360, New York (February 27, 2012, 10:09 PM EST) -- The U.S. Securities and Exchange Commission’s former general counsel David Becker on Monday settled claims brought by Bernard L. Madoff Investment Securities LLC trustee Irving Picard over inheritance money Becker received from the imprisoned fraudster's Ponzi scheme.

Becker agreed to pay $556,017 to resolve claims that he and his brothers had received more than $2 million in payments from Madoff's securities firm through the estate of their late mother, according to a motion filed in New York bankruptcy court.

The vast majority of the payments, about $1.54 million, were...
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