By Erik Larson, Bloomberg News
The legal fallout from Bernard Madoff’s epic fraud includes an ironic twist: a road map for investors wanting to hold on to profits that seem too good to be true.
In the eight years since Madoff’s arrest, a series of recent court decisions have favored investors who profited from the scam, dashing the hopes of trustee Irving Picard to return more to Madoff’s victims who lost $17.5 billion in principal, legal experts say. At the core of the disputes is how far Picard can go to make the Ponzi scheme’s investors whole.
“The rulings all ...
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