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Report: Westport National Bank Settles With Some Madoff Case Plaintiffs

Bernie Madoff is serving a sentence of 150 years imprisonment and forfeiture of $17.179 billion for crimes in his huge fraud scheme.
Bernie Madoff is serving a sentence of 150 years imprisonment and forfeiture of $17.179 billion for crimes in his huge fraud scheme. Photo Credit: U.S. Department of Justice

WESTPORT, Conn. -- Westport National Bank had a busy week in cases involving investors' losses in Bernard Madoff’s huge Ponzi scheme, the New York Times reported.

Westport National Bank and its parent company, Connecticut Community Bank, were not liable for losses in its role as a custodial bank, a jury ruled. But the bank agreed to pay $7.5 million to 240 investors in a related case, a lawyer for the bank said.

Read the full story here in the New York Times.

Read an earlier story on the case here .

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