US judge: Investors can force Madoff bankruptcy

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April 11, 2009 04:02

 
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A judge has given investors a green light to go after Bernard Madoff's personal property by forcing the disgraced financier into bankruptcy. In a ruling in federal court on Friday, US District Judge Louis L. Stanton lifted a temporary order barring involuntary bankruptcy for Madoff while the government continues its pursuit of his ill-gotten gains. Victims of the massive fraud would benefit from a bankruptcy court's "orderly and equitable administration of his individual estate," the judge wrote.

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