Law360, New York (December 29, 2008, 12:00 AM EST) -- Now that Bernie Madoff has admitted that he was running a $50 billion Ponzi scheme — losses greater than the amount needed to bail out the entire domestic automobile industry — two monumental tasks lie ahead for the receiver and great battles are foreshadowed between investor factions.
Receiver’s Goal: Find The Money
The first step for the receiver is to figure out quickly where the money went. With as much as $50 billion in money flowing through the company over several decades, this will be a...
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