Madoff Aide To Pay $487M Under Deal Approved In NY

Law360, New York (November 10, 2016, 3:48 PM EST) -- A Manhattan federal judge has approved a settlement requiring Daniel Bonventre, a former top deputy to Bernie Madoff who is currently serving a 10-year prison sentence, to pay $487 million individually and $155 billion jointly with others convicted in connection with the massive Ponzi scheme.

Bonventre and four other former Bernard L. Madoff Investment Securities LLC employees were convicted in March 2014 of participating in the scheme, which caused an estimated $17.5 billion in investor losses. U.S. District Judge Laura Taylor Swain on Monday approved a...
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