Madoff Investors Challenge Payback Formula

Tuesday, Aug 10, 2010  |  Updated 7:30 AM EDT
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Madoff Investors Challenge Payback Formula

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Madoff's lack of ethics may apply to his views on marriage as well as money.

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Dozens of investors who recouped more than their investments in jailed financier Bernard Madoff's business have asked a federal court in New York to force a trustee to include fictitious profits when considering how victims get paid back.

The request was filed late Monday with the federal appeals court in Manhattan.

They challenge a federal bankruptcy judge's March ruling that investors are only owed the money they invested with his firm and not the $65 billion reflected on fictitious statements.

The papers say those who were paid back more than they invested could now face lawsuits.

Madoff is serving a 150-year sentence after admitting his multi-decade fraud. A message for comment left with a spokesman for the trustee was not immediately returned.

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