In an opinion released on Monday, a federal bankruptcy judge in Manhattan approved the controversial method that a court-appointed trustee was using to calculate the victims' losses in Bernard L. Madoff's enormous Ponzi scheme. Federal Bankruptcy Judge Burton R. Lifland rejected the argument, made by hundreds of defrauded investors, that their claims should be based on the amounts shown on their final account statements, sent just weeks before Mr. Madoff confessed to operating his gigantic fraud...
Full Story: The New York Times
