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Madoff Investors Facing Possible Lawsuits - Reuters

By Mark H. Astarita, Esq.

Reuters is reporting what we wrote about earlier - Madoff investors will soon become defendants. "Disgraced money manager Bernard Madoff's suspected $50 billion fraudscheme looks set to burn even those who pulled their investments outlong before the scandal rippled into the global financial system."  http://www.reuters.com/article/ousiv/idUSTRE4BG0DT20081217I wasn't clairvoyant. I have been down this road before. Back in the 80's we represented individuals who were accused of profiting from the demise of a brokerage firm, and we recently represented investors in the then-largest securities fraud in NJ. Similar facts, a well know money manager finds himself in a Ponzi scheme, and turns himself in, leaving his investors in the lurch, and those who got in early as well as those who got out early, as defendants in lawsuits by the money manager's receiver, to obtain repayment of their gains...continue to full post

Full post as published by SECLaw.com on December 16, 2008 (boomark / email).