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Browse: Home / 2012 / November / 13 / Ivy Asset Mgmt settles with NY for $210 mln over Madoff

Ivy Asset Mgmt settles with NY for $210 mln over Madoff

By Securities Docket on November 13, 2012, 4:39 pm

Ivy Asset Management agreed to pay $210 million to settle lawsuits over advising clients to invest with Ponzi schemer Bernard Madoff, the New York State Attorney General said on Tuesday.

The New York-based investment adviser, a subsidiary of Bank of New York Mellon Corp, withheld damaging information about Madoff to make millions of dollars in fees, N.Y. Attorney General Eric Schneiderman said in a statement.

via Ivy Asset Mgmt settles with NY for $210 mln over Madoff — Reuters

Posted in Criminal, Industry, Top | Tagged Madoff, NYAG, Settlements

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