More Than $100M Available For Bayou Victims

Jul 3 2008 | 2:54pm ET

Prosecutors are making available to victims more than one-third of the money lost by investors in the Bayou Group fraud.

The U.S. Attorney’s office in Manhattan said that $115,6 million in seized from Bayou and its three principals is available for distribution to its 288 victims. About 75% of that money will be available immediately, with another 25% held in reserve pending a continuing bankruptcy proceeding.

Bayou collected some $450 million from investors, losing roughly $300 million of it.

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