Carl Shapiro agrees to divest 625 m $ is granted to victims of Bernard Madoff
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Entrepreneur and philanthropist Carl Shapiro and other representatives of "Shapiro incumbent Advisory investment accounts has concluded an agreement with" US prosecutors in New York.
The US Government filed documents in court to recover the money accounts of JP Morgan Chase and said that the product will be distributed to Madoff investors.
Shapiro, 97, first of all invested money with Madoff in 1961, two years after the imposter has launched his company.
Madoff, 72, is serving a 150-year prison sentence after pleading guilty in March 2009 a decades long multi-billion fraud who defraud thousands of investors worldwide.
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