Comment on Trustee: 3 New Bids Have Been Made For Madoff's Business

Trustee: 3 New Bids Have Been Made For Madoff's Business

NEW YORK — A trustee says three new bids have been made for the securities-trading operation once run by fallen financier Bernard Madoff (MAY'-dawf). Trustee Irving Picard announced Wednesday the bids for the legitimate market-making business had been made to compete with one from Castor Pollux Securities. He didn't release the names of the bidders or the amounts of the bids. Boston-based Castor Pollux had agreed to pay $500,000 at closing and then up to $15 million in revenues from trades through 2012. Picard says he's pleased additional bidders came forward.

 

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