Nov
23
Kochs and Other Madoff Investors Are Winners in Fight Over Profits Held Abroad
By
David Koch at a gala in 2015. CreditKrista Schlueter for The New York Times
The company led by the American billionaire Koch brothers, along with dozens of banks and fund managers, kept billions of dollars in profit from Bernard L. Madoff’s Ponzi scheme in accounts offshore. As it turns out, that was a good decision.
Koch Industries and others who invested in the Madoff fund from offshore accounts won a key ruling in federal bankruptcy court on Monday, when the judge said certain funds held abroad — estimated at about $2 billion — could not be made available to victims of the Madoff scheme…
Kochs and Other Madoff Investors Are Winners in Fight Over Profits Held Abroad
