Irving H. Picard, the Trustee for the SIPA liquidation of Bernard L. Madoff
Investment Securities LLC, today announced that he has reached a
settlement with more than a dozen domestic and foreign investment funds, their
affiliates and a former chief executive associated with Rye, New York-based
Tremont Group Holdings, Inc., the multi-billion-dollar money
management company and operator of the second-largest Madoff “feeder fund”
group, the Rye Select and Tremont families of funds.
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