Judge OKs $7.8M Settlement For Hispanic Madoff Investors

Law360, Los Angeles (June 15, 2012, 8:31 PM EDT) -- A New York federal judge has signed off on a $7.8 million settlement on behalf of 278 Hispanic investors who lost millions of dollars by investing in bankrupt Bernie Madoff feeder fund Fairfield Sentry Limited Fund through Miami-based brokerage firm EFG Capital International Corp., attorneys said Friday.

The settlement marks the first time a group that invested in Fairfield Sentry and lost money in the Madoff scandal has received compensation through litigation, Lawrence Kellogg, an attorney representing the investors from Levine Kellogg Lehman Schneider & Grossman...
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