NEW: The Supreme Court refused to hear a bid by major banks and companies including Koch Industries Inc to prevent a trustee chasing money for victims of imprisoned Ponzi scheme swindler Bernard Madoff from recouping funds that were transferred overseas
- The U.S. Supreme Court on Monday refused to hear a bid by major banks and companies including Koch Industries Inc to prevent a trustee chasing money for victims of imprisoned Ponzi scheme swindler Bernard Madoff from recouping funds that were transferred overseas.
The Manhattan-based the 2nd U.S. Circuit Court of Appeals had overturned a bankruptcy judge's decision to dismiss the lawsuits. President Donald Trump's administration agreed with the 2nd Circuit ruling. Madoff, 82, was arrested in 2008 and pleaded guilty in 2009. He is serving a 150-year sentence in North Carolina. Madoff, whose lawyer has said is dying of kidney failure, has sought"compassionate release," saying he had fewer than 18 months to live.
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