The U.S. Supreme Court on Monday refused to consider an appeal from a group of Bernard Madoff investors who were seeking to recover all the money listed on their last account statements when the Ponzi scheme unraveled in 2008.
The so-called net winners wanted to challenge trustee Irving Picard’s decision to allow claims from victims based on how much they lost in principal deposits, not how much they lost in fictitious “profits” Mr. Madoff fabricated.
via High Court Declines to Hear Madoff ‘Net Winner’ Challenge – WSJ
