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Madoff trustee seeks to release $1.2 billion to investors

NEW YORK- A trustee recovering money for thousands of victims of Bernard Madoff's epic Ponzi scheme has asked a New York court to let him distribute another $1.2 billion. Irving Picard asked the U.S. Bankruptcy Court in Manhattan on Wednesday to approve the allocation. The payouts to individual investors would range from $1,082 to $168 million, with an average...
Source: The Associated Press
Madoff trustee seeks to free up $1.25 bln for fraud victims

NEW YORK, April 15- The trustee recouping money for victims of Bernard Madoff's Ponzi scheme on Wednesday sought court approval to release $1.25 billion from legal reserves, potentially boosting the total payout to $8.22 billion. Irving Picard, the trustee, said the request was made possible after a federal appeals court in New York ruled on Feb. 20 that victims...
Source: Reuters | By: Jonathan Stempel
Madoff Trustee Seeks Release of $1.249 Billion from Customer Fund Reserves

NEW YORK---- Press release from the office of Irving H. Picard, SIPA Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC. Irving H. Picard, Securities Investor Protection Act Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC, filed a motion today in the United States Bankruptcy Court for the Southern District of New...
Source: Business Wire
'Diva of distress' vs. SEC: Does she have a case?

Lynn Tilton may be trying to tear up the new order of American securities regulation. And a number of legal eagles say she might have a point.
Source: CNBC.com | By: Alex Rosenberg
Huge pension finally turning to hedge funds

The United Nations' $52 billion pension fund is getting close to investing in hedge funds for the first time.
Source: CNBC.com | By: Lawrence Delevingne
In new emails, Madoff says fraud wasn't so bad

Bernie Madoff is insisting that the extent of his crimes is not nearly as bad as the media and the court-appointed trustee are making it out to be.
Source: CNBC.com | By: Scott Cohn
Jury finds investment manager liable in case linked to Ponzi scheme

WASHINGTON, April 1- A Florida jury handed the U.S. Securities and Exchange Commission a major victory on Wednesday, after it found an investment manager tied to the Rothstein Ponzi scheme liable for fraud. The verdict comes nearly three years after the SEC charged George Levin with defrauding investors through a feeder fund that funneled money to attorney and...
Source: Reuters | By: Sarah N. Lynch
Bill Ackman: Shutting this company down is key to me

Hedge fund mogul William Ackman said on Monday that shutting down Herbalife is "one of the most important things" he can do.
Source: Reuters
U.S. not liable for alleged SEC negligence in Stanford fraud -court

Stanford's victims accused the SEC of negligence for having waited until 2009 to uncover the Ponzi scheme, despite having had evidence of it as early as 1997.. But the court said the SEC had discretion to decide how to enforce securities laws, and could not be liable for certain misrepresentations. Victims claimed that the SEC thought Stanford's business was a...
Source: Reuters | By: Jonathan Stempel
U.S. justices rebuff lawsuit against banks over Madoff Ponzi scheme

WASHINGTON, March 30- The U.S. Supreme Court on Monday left intact a ruling that prevents plaintiffs from suing banks that they say aided and abetted convicted fraudster Bernie Madoff. The high court declined to hear two separate appeals filed by investors in foreign investment vehicles that lost money when Madoff's the Ponzi scheme collapsed in 2008. They...
Source: Reuters | By: Lawrence Hurley