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International Law
: Misleading Advertising LawThe Second Madoff Fraud
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As reported on Bloomberg, bad news for Madoff investors thinking that the official receiver is there to help them
"Seeking money from investors who say they were defrauded can result in protracted litigation.
In the Bayou case, which is being appealed, $20 million of the $33 million recovered from redeeming investors went to pay legal fees, Neville said."
Jeez, the receiver left $7 million on the table. Pikers!
Everyone knows that the official receiver is there to clean up, blow off the marks, and make everything look "official".
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Full post as published by Misleading Advertising Law on January 05, 2009 (boomark / email).
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