FOUND! $160 Million For Madoff Victims


As we’ve said, Bernie Madoff’s victims are going to get something back. Not soon, and not much, but something.

For instance, regulators have just found a nice cache of money that will soon be separated from its owner and distributed:

WSJ: New York lawyer Lee Richards, who was appointed by a U.S. federal judge to marshal the assets of non-U.S. entities owned by Mr. Madoff, has taken control of Mr. Madoff’s U.K. operation, Madoff Securities International. The firm places bets on European stocks with the Madoff family’s own money, says a spokesman for the head of the firm. The spokesman said the firm, which has ceased operations, holds £105 million, or about $160 million, that belongs to the Madoffs.

Not for long.

See Also: Madoff Investigation Turns Toward Wife