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New York Times Looks At Role Of Westport Bank In Madoff Scandal

Bernie Madoff is serving a sentence of 150 years imprisonment and forfeiture of $17.179 billion.
Bernie Madoff is serving a sentence of 150 years imprisonment and forfeiture of $17.179 billion. Photo Credit: U.S. Department of Justice

FAIRFIELD COUNTY, Conn. -- Bernie Madoff has already been in prison for four years for running the largest financial fraud in U.S. history, but the battle over the losses continues at Westport National Bank and its parent company, Connecticut Community Bank, as The New York Times describes in a recent story on Dealbook.

A group of 200 investors is suing the bank, with 10 offices in Fairfield County, over their combined losses of $60 million, saying the bank failed in its role as the custodial bank in charge of their money.

Read the full story here in The New York Times .

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