Judge Denies Claims by Investors in Retirement Accounts Tied to Madoff

Hundreds of people whose employers invested their retirement funds with Bernard Madoff cannot recover money from the liquidation of Mr. Madoff’s firm because they weren’t direct customers of the imprisoned Ponzi scheme operator, a bankruptcy judge has ruled.
The decision, by Judge Stuart Bernstein of the U.S. Bankruptcy Court in Manhattan on Friday, is the latest in a string of rulings denying claims put forward by investors in either retirement funds or so-called feeder funds that in turn invested with Mr. Madoff. More in the Wall Street Journal here.