Legal Bills in Madoff Case Will Be Over the Top

Investors with Bernie Madoff have not only lost most of their life savings, whatever is left to salvage will be eaten away in legal fees.

An article posted on Bloomberg.com indicated that U.K. regulatory lawyers advising clients on the financial crisis and the Bernie Madoff scandal will bill as much as as 1,000 pounds per hour ($1,800 Cdn). With multiple lawyers working on a given case at the same time, the legal bills will be astronomical.

Perhaps the SEC can cough up some funds for investors and pay for the legal bills in this case after being warned about Madoff for many years.

 

Your thoughts and comments are appreciated.

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