Some of the people who lost money in the Bernard Madoff Ponzi scheme, but had been shut out of any recovery of their funds, are a step closer to getting at least something back.
The court-appointed trustee in the recovery of assets lost to Madoff has announced a settlement with the liquidators of Fairfield Greenwich Group funds. Those funds had more than 95% of their investors' cash deposited with Madoff's investment firm, which was a front for the largest-ever Ponzi scheme, according to the trustee, Irving Picard.
As part of the settlement, Picard and Fairfield liquidators Kenneth Krys and Joanna Lau agreed to drop their multibillion-dollar claims against each other. Read CNNMoney's full report.