Irving Picard said in a statement that victims of Bernard Madoff's $17.5 billion Ponzi scheme will expect additional payments totaling $349 million as soon as the US Bankruptcy Court in New York approves the distribution.
The jury at a Chicago federal court said former Sentinel Management Group Inc chief executive Eric Bloom was guilty of misleading his clients with a fraud scheme partly because he runs the firm, Bloomberg said.
The US Supreme Court was able to save the Internal Revenue Service from paying over $1 billion in severance pay tax claims made by Quality Stores on the insistence that the supplemental unemployment compensation was not subject under Federal Insurance Contributions Act.
In a series of raids conducted by the concerted efforts of the US Federal Bureau of Investigation and other law enforcement officials, it was known that State Sen. Leland Yee of San Francisco was arrested for unspecified reasons, The Los Angeles Times said.
