Saturday, 10 October 2015
Last updated 8 hours ago
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.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…