Madoff Trustee Sells Its Market Making Business

Marino, Jonathan
April 2009
Mergers & Acquisitions Report;4/6/2009, Vol. 22 Issue 14, p32
The article reports on a deal signed by trustee Irving H. Picard with broker-dealer Castor Pollux for the sale of Bernard L. Madoff Investment Securities. Picard would receive an initial payment of 500,000 U.S. dollars from Pollux for the company. The deal could amount to 15 million U.S. dollars more depending on revenues and shares traded through 2012. Madoff's staff were dismissed by Picard since they would no longer be needed in the deal.


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