Madoff victims need more
Mon, 2009-06-29 17:01 — Mat
Even as Mr. Picard gathers up assets, fights are brewing over how much will be paid out. Mr. Picard has said he intends to pay claims on a "net equity" basis, or the difference between what customers put in and what they took out.
Many former Madoff customers want more. Some said their claims should be based on what was shown on their November 2008 account statements, which reflected balances of nearly $65 billion, before the fraud collapsed. Several investors have sued Mr. Picard over the matter. The suits are pending.
We will be setting up a memorial fund soon: www.MadOffsMadupMoneyNeeded.com
http://finance.yahoo.com/banking-budgeting/article/107249/hunt-goes-on-f...
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Comments
Its puzzling that Madoff's
Its puzzling that Madoff's wife gets to walk away with 2.5 million. Since she has expressed astonishment and shame about her husbands actions she should do the right thing and give a big chunk of that money to the victims.