October 22, 2020
Business News

Innocent Madoff investors must pay back profits, court rules – NBC News

NEW YORK Investors who profited from Bernard Madoffs massive Ponzi scheme even though they knew nothing of it must still pay back their profits, an appeals court decided Thursday.
The 2nd U.S. Circuit Court of Appeals in Manhattan upheld lower-court decisions in cases filed by Irving Picard, a court-appointed trustee who has recovered money for cheated investors for over a decade.
Madoff, 82, is serving a 150-year prison sentence imposed after he pleaded guilty to federal charges in 2009.

Click here to view the original article.

Related Posts

You might also like ...

42% of Americans Have Missed Bill Payments Due to Financial Impact of COVID-19 Pandemic
Venafi Research: Machine Identity Attack Surface Growing Exponentially
Adtalem Global Education Announces First Quarter Fiscal 2021 Conference Call