The trustee seeking money for victims of Bernard Madoff’s fraud announced a more than US$1-billion settlement with Tremont Group Holdings Inc, which he had accused of missing warning signs of the Ponzi scheme. Thursday’s settlement raises the amount of money trustee Irving Picard said he has recovered for Madoff’s victims to US$8.6-billion, or roughly half the US$17.3-billion lost by customers who filed claims. It requires court approval.
Read more: Madoff trustee settles with Tremont for US$1-billion — Reuters
