NEW YORK (AP) — Nearly half the money invested by thousands of people in Wall Street swindler Bernard Madoff's multi-decade fraud has been recovered, a court-appointed trustee announced Thursday as he revealed a settlement that adds more than a billion dollars to the total.
Trustee Irving Picard said the latest agreement was reached with more than a dozen domestic and foreign investment funds, their affiliates and a former chief executive associated with Tremont Group Holdings Inc., a multibillion-dollar money management company based in Rye, just north of New York City.
The settlement will boost recoveries of money available to jilted investors to more than $8.6 billion, …
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