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Judge consolidates Madoff bankruptcy cases

By Tom Hays

Associated Press

NEW YORK — A federal judge has consolidated two bankruptcy cases involving Bernard Madoff’s business and personal assets.

The decision Tuesday by U.S. Bankruptcy Judge Burton Lifland is expected to streamline a process to sell assets and pay back thousands of swindled investors.

The trustee handling the liquidation of Madoff’s business has said he has recovered roughly $1 billion so far. The disgraced financier’s personal property includes homes in Manhattan, Florida and France, a yacht and two fishing boats.

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Madoff pleaded guilty in March to charges his investment advisory operation was a multibillion dollar Ponzi scheme. He awaits sentencing.

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