Madoff Trustee Reaches $76M Settlement With Feeder Fund

Law360 (February 12, 2018, 5:57 PM EST) -- The trustee for Bernie Madoff's shuttered investment firm announced Monday that the bankrupt estate has settled Ponzi scheme profiteering allegations against a feeder fund for just over $76 million, saying the sum covers all transfers received by the fund in the two years preceding the collapse of Madoff's fraud.

Bermuda-based Alpha Prime Fund Ltd. has agreed to return $76.5 million to the liquidating estate of Bernard L. Madoff Investment Securities LLC in exchange for the dismissal of some clawback claims filed by trustee Irving H. Picard,...
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