Quantcast

Jewish Journal

JewishJournal.com

January 13, 2011

Judge approves $7.2-billion Madoff settlement

http://www.jewishjournal.com/business/article/judge_approves_72-billion_madoff_settlement_20110113

The largest settlement to date in the Bernard Madoff multi-billion dollar Ponzi scandal has been approved by a U.S. judge today, the Los Angeles Times reports.

A U.S. judge approved a $7.2 billion settlement on Thursday to pay former customers of the Madoff firm, the largest yet in the worldwide search for money lost in Bernard Madoff’s multibillion-dollar Ponzi scheme.

U.S. Bankruptcy Court Judge Burton Lifland in New York made the ruling over the objections of some investors, who contested the deal between the estate of Jeffry Picower, a Madoff friend and investor, and a trustee liquidating the Madoff firm.

JewishJournal.com is produced by TRIBE Media Corp., a non-profit media company whose mission is to inform, connect and enlighten community
through independent journalism. TRIBE Media produces the 150,000-reader print weekly Jewish Journal in Los Angeles – the largest Jewish print
weekly in the West – and the monthly glossy Tribe magazine (TribeJournal.com). Please support us by clicking here.

© Copyright 2014 Tribe Media Corp.
All rights reserved. JewishJournal.com is hosted by Nexcess.net
Web Design & Development by Hop Studios 0.2073 / 37