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Convicted fraudster Bernard Madoff can be forced into personal bankruptcy, a federal judge ruled, reversing a previous decision which barred investors from pushing for that outcome.
A federal judge reversed himself on Friday, ruling that Bernard Madoff can be forced into personal bankruptcy to ensure all his assets are used to pay off investors he defrauded.
U.S. District Judge Louis Stanton made the ruling in New York today, Bloomberg reported. He had ruled against that outcome on Dec. 18, just after Madoff had been arrested for taking part in a multi-billion dollar fraud.
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