Madoff fund liquidated as sons deny involvement - papers

The Securities Investor Protection Corp (SIPC), a non-profit body which provides limited insurances to investors, has appointed Irving Picard as trustee to oversee the liquidation of Mr Madoff's brokerage firm to try and salvage any money for his former customers. In a statement, Mr Picard said he would "work with SIPC to do what the law allows to ameliorate losses to customers". It is unclear at this stage if any assets will be retrieved for the growing list of casualties from the alleged scam, which include Royal Bank of Scotland, HSBC and Santander, owner of Abbey. THE FEDERAL RESE...