NY judge tosses Madoff suits targeting hedge funds
NEW YORK (AP) - September 26, 2011 (WPVI) -- A federal judge has thrown out lawsuits in which investors blamed hedge funds for failing to detect Bernard Madoff's massive fraud.
The ruling by Judge Deborah Batts was made public Monday. It says investors in the hedge funds run by J. Ezra Merkin were sufficiently warned about risks.
The Manhattan jurist says a few people were suspicious about Madoff's practices before the allegations were publicly revealed. But she says it wasn't widely known - and he even duped government regulators.
The 73-year-old Madoff is serving a 150-year prison term after admitting the fraud.
bernard madoff, trial, fraud, national/world
- 911 recordings released in Ewing Twp. explosion
- Brief Surge of Mild Air
- Get the 6abc StormTracker app
- WATCH: Action News Online
- Gas leak, evacuations reported in Frankford
- Man,90, dies in Hamilton Township house fire
- Partial house collapse in Strawberry Mansion
- 2 injured in NJ Turnpike crash in Mt. Laurel
- Autopsy results released in death of trooper's wife
- Search for finger-biting mall attack suspects
- Pa. woman born at Burger King seeks birth mom
- Vietnam vet's therapy dog missing in Lehigh Valley
- Photos: 7 recent child porn arrests in Pa.and Del.
- Photos: Thwarted! 10 suspects caught in the act
More 6abc.com resources
Most Viewed StoriesMost Viewed Photos