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Mt. Gox creditors seek trillions where there are only millions

Only $91 million of the $500 million that Mt. Gox claimed it had in the weeks before it went under, has been tracked down, the New York Times reports.

Source: The New York Times

Bernie Madoff victims may soon recoup another $247 million

The trustee recouping money for Bernard Madoff's victims sought court approval to free up another $247 million to help cover their losses.

Source: Reuters

Madoff victims may soon recoup another $247 million

May 26- Nearly 7-1/ 2 years after Bernard Madoff's Ponzi scheme was unmasked, the court-appointed trustee recouping money for the swindler's victims on Thursday sought court approval to free up another $247 million to help cover their losses. Bankruptcy Judge Stuart Bernstein is expected to review the payout at a June 15 hearing in Manhattan.

Source: Reuters

Madoff Trustee Requests Allocation of $247 Million to Customer Fund and Court Approval to Immediately Distribute $171 Million to BLMIS Customers with Allowed Claims

NEW YORK& WASHINGTON---- Joint press release from the offices of Irving H. Picard, SIPA Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC, and Stephen P. Harbeck, President and Chief Executive Officer of the Securities Investor Protection Corporation. Irving H. Picard, Securities Investor Protection Act Trustee for the liquidation of...

Source: Business Wire

Former lawyer who survived suicide attempt is sentenced

NEW YORK— A one-time corporate lawyer who cheated friends and relatives of life savings in a $5 million Ponzi scheme before writing a 16- page suicide note and jumping into the Hudson River was sentenced Thursday to five years in prison as former friends watched with content at the severity of his penalty. District Judge Laura Taylor Swain gave Charles Bennett...

Source: The Associated Press

More than 25,000 Madoff victims now eligible for $4 bln fund

NEW YORK, May 18- The overseer of a $4 billion U.S. Department of Justice fund for victims of Bernard Madoff's Ponzi scheme said he expected to recommend payouts for at least 25,280 claimants with nearly $4 billion in fraud losses. Richard Breeden, special master of the Madoff Victim Fund, said in an update on his website this week that his office was "substantially"...

Source: Reuters

UPDATE 1-JPMorgan wins dismissal of Madoff investors' U.S. lawsuit

NEW YORK, May 18- JPMorgan Chase& Co on Wednesday won dismissal of a lawsuit brought by former customers of Bernard Madoff who blamed the U.S. bank for playing an active role in his Ponzi scheme and ignoring red flags of his fraud. District Judge John Koeltl in Manhattan said the plaintiffs failed to show that JPMorgan had specific control over Madoff's fraud.

Source: Reuters

JPMorgan wins dismissal of Madoff investors' U.S. lawsuit

NEW YORK, May 18- JPMorgan Chase& Co on Wednesday won the dismissal of a lawsuit by former investors of Bernard Madoff's firm who blamed the largest U.S. bank for turning a blind eye to his Ponzi scheme. District Judge John Koeltl in Manhattan said the plaintiffs failed to show that JPMorgan had specific control over Madoff's fraudulent activities.

Source: Reuters

UPDATE 1-EXCLUSIVE-U.S. investigates market-making operations of Citadel, KCG

*Justice Department has issued subpoenas to examine records of Citadel, KCG. The Justice Department has subpoenaed information from Citadel and KCG related to the firms' execution of stock trades on behalf of clients, according to people familiar with the investigation. The Justice Department has looked at a number of high-speed trading firms that pay retail...

Source: Reuters

US investigates market-making operations of Citadel, KCG

Federal regulators are looking into the possibility that the two giants of electronic trading are giving small investors a poor deal.

Source: Reuters