NEW YORK AP - Some elderly investors have sued the trustee overseeing the liquidation of Bernard Madoff's assets, saying the system being used to pay claims against the disgraced financier is unfair.The lawsuit filed in bankruptcy court Friday in Manhattan said six longtime investors wiped out by the scandal together lost life savings of $9 million - the amount on fictitious statements issued by Madoff's defunct firm in 2008.
June 08, 2009 at 12:00 AM
1 minute read
NEW YORK AP – Some elderly investors have sued the trustee overseeing the liquidation of Bernard Madoff’s assets, saying the system being used to pay claims against the disgraced financier is unfair.
The lawsuit filed in bankruptcy court Friday in Manhattan said six longtime investors wiped out by the scandal together lost life savings of $9 million – the amount on fictitious statements issued by Madoff’s defunct firm in 2008.
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