Just in case you thought the Madoff story had played out, HedgeCo.reports that Koch Industries is being sued in relation to the biggest Ponzi scheme in U.S. history. The hedge fund fraud that Bernie Madoff pulled off received money from a Koch feeder fund, according to Irving Picard, the Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC.
The company run by billionaire brothers Charles and David Koch, is being sued for $21.5 million, according to the complaint filed Feb. 9 in U.S. Bankruptcy Court in Manhattan. Meanwhile Madoff, the Ponzi King, is currently serving 150 years in federal prison...
Don’t stop now. There’s more at http://www.hedgeco.net/news/02/2012/koch-industries-sued-for-21-5-million-in-madoff-hedge-fund-fraud-case.html
No comments:
Post a Comment