More Madoff Monies Found in Bank Accounts
April 30th, 2009 meg
Nearly $7 million was found in six bank accounts belonging to Bernard Madoff, according to records filed by Irving Picard, the lawyer acting as trustee.
Picard is asking that the money be transferred to his control for distribution to Madoff investors who were victimized by the estimated $65-billion Ponzi scheme.
Castor Pollux Securities LLC of Boston has also agreed to pay $25.5 million in the next four years to buy what remains of Madoff’s legitimate operations.
As with money raised from the sale of other assets, the money paid for the market-making business will be used to repay investors.
