A Long Island family that invested $10 million with Bernard Madoff just days before the accused Ponzi schemer was busted cannot immediately recover its money from his frozen assets.
Federal bankruptcy Judge Burton Lifland said he felt “sympathy” for the Rosenman family, which he described as “the last one ripped off” before Madoff’s Dec. 11 arrest.
But Lifland ruled that the Rosenmans’ investment was a “cash deposit” and part of the Madoff firm’s estate.