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Browse: Home / 2009 / June / 22 / Madoff Prosecutors Seek More Time to Calculate Losses and Investors Defrauded

Madoff Prosecutors Seek More Time to Calculate Losses and Investors Defrauded

By Securities Docket on June 22, 2009, 10:43 am

On Friday, the Madoff prosecutors asked the court for more time to calculate the amount of money lost and the number of investors defrauded. Prosecutors cited the fact that the court-appointed trustee in the Madoff case recently found microfilm records dating back to 1979, which must be analyzed.

To date, the trustee has identified 1,341 account holders who collectively lost about $13 billion as of December 11, 2008, when the FBI arrested Madoff. The trustee has not asked for a delay in Madoff’s June 29 sentencing, however, Reuters reports.

Read the Reuters article

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Posted in Criminal | Tagged Features, Madoff

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