Justices End Madoff Investors' Fight For $41M In Ponzi Profits

Law360 (May 3, 2021, 3:27 PM EDT) -- The U.S. Supreme Court on Monday declined to hear an appeal from investors who profited from Bernie Madoff's Ponzi scheme, shutting down their effort to avoid returning $41 million in fraudulent proceeds to the trustee overseeing the late con man's bankruptcy estate.

The justices denied a March 30 petition for review brought by former clients of Bernard L. Madoff Investment Securities LLC without giving a reason, as is typical. The Madoff investors, including Turtle Cay Partners and South Ferry Building Co. LP, had sought review of a Second Circuit finding that they can't keep anything beyond their principal investment in the fund under...

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