NEW YORK (AP) – A federal judge says investors can force Bernard Madoff into personal bankruptcy proceedings.
Federal prosecutors and the Securities and Exchange Commission have argued that it would be unnecessary and costly for the convicted financier to file for personal bankruptcy.
But U.S. District Judge Louis Stanton disagreed in an opinion released Friday.
The 70-year-old Madoff is in prison awaiting a June sentencing after pleading guilty last month to charges that he defrauded investors of billions of dollars.
A court-appointed trustee is in the process of liquidating his business assets.
Send questions/comments to the editors.
Related Stories
Latest Articles
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.