Westport National Bank and its parent company, Connecticut Community Bank, were not liable for the losses of investors in Bernard Madoff’s vast Ponzi scheme in its role as a custodial bank, a jury found on Wednesday. Separately, the bank agreed to pay $7.5 million to 240 investors in a related case, a lawyer for the bank said.
via Bank in Madoff Case Settles With Some Plaintiffs and Gets Favorable Jury Ruling – DealBook
