By Erik Larson, Bloomberg News
Billionaire brothers Charles and David Koch’s company fought for years to hold on to millions of dollars in profit from Bernard Madoff’s Ponzi scheme. That battle just paid off, and victims won’t like it.
Koch Industries and dozens of other former Madoff customers are poised to keep as much as $2 billion they gleaned from the con man’s bogus securities transactions after U.S. Bankruptcy Judge Stuart Bernstein in Manhattan ruled the cash is out of reach of a trustee recovering money for victims.
The ruling on Monday underscores that even eight years after the ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.