Madoff Trustee, Calif. AG Reach $277M Deal With Investor

Law360, New York (October 28, 2016, 2:14 PM EDT) -- The family of a prominent Bernie Madoff investor has agreed to settle long-standing litigation brought by a court-appointed trustee and California’s attorney general in a deal that will recoup victims of the massive fraud up to $277 million, according to papers filed Friday in New York bankruptcy court.

Trustee Irving Picard, seen here in a 2010 file photo, has reached a settlement with the estate of an investor who allegedly netted more than $1 billion in fake profits from the scheme. (Credit: AP) The settlement is...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.