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May 18, 2011

Madoff Trustee Settles Litigation with So-Called Feeder Fund

"The trustee liquidating Bernie Madoff’s firm agreed to not pursue $212 million from two bankrupt funds related to the Fairfield Greenwich Group, the biggest so-called feeder fund in the alleged Ponzi scheme, Bloomberg News reports.

As part of the settlement with the trustee, both funds reduced their claims against the Madoff bankruptcy estate."

Read more here.

May 18, 2011 in Current Affairs | Permalink

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