SEC Supports Inflation Adjustment For Madoff Victims

Law360, Los Angeles (December 11, 2012, 7:56 PM EST) -- The U.S. Securities and Exchange Commission has thrown its support behind an effort in a New York bankruptcy court to obtain an inflation adjustment for decades-old investments of defrauded customers of Wall Street swindler Bernard L. Madoff.

In a 19-page court filing, the SEC argued that fairness as well as the unusual circumstances of the Madoff Ponzi scheme permits customers of Bernard L. Madoff Investment Securities LLC to seek inflation-adjusted reimbursement. Doing so would be fair and just, the SEC argued.

“We believe the value of...
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