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SEC Strikes Civil Case Deal with Madoff
By
Jen Chung
Published Feb 9, 2009
Modified Feb 9, 2009
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By
Jen Chung
Published Feb 9, 2009
Modified Feb 9, 2009
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Hilarious: After not doing anything about Bernard Madoff when warned about him years ago, the Securities and Exchange Commission has reportedly agreed to a civil case settlement with Ponzi schemester Madoff. The AP reports the agreement "could eventually force [Madoff] to pay a civil fine and return money raised from investors." Money raised from investors—wait, the money that no one can seem to find? (Fine, they found $950 million of an estimated tens of billions.) Don't worry, there's still that criminal case against Madoff. The AP adds, "The partial judgment must be approved by the judge overseeing the Madoff case in federal court in Manhattan."
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Bernard Madoff
civil case
SEC
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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