SAVE MONEY ON TRAVEL DEALS

U.S. District Judge Louis L. Stanton said the U.S. Securities and Exchange Commission did not prove the principals of Cohmad knew anything about Madoff's Ponzi scheme, The New York Times reported. While Madoff and Maurice J. Cohn co-founded the company and it shared space in Madoff's New York office, Cohn, his daughter and son-in-law were the principals.

"One who conducts normal business activities while ignorant that those activities are furthering a fraud is not liable for securities fraud", Stanton said.

Stanton also heard arguments about which Madoff investors should be compensated for their losses. Irving Picard, the court-appointed trustee, reported finding 2,568 net winners -- people who received more money from Madoff than they put in -- and 2,335 net losers.

Lawyers for the net winners argued they should be eligible for compensation based on the difference between what they took out of their funds and their theoretical gains on Madoff's books, Daily Finance reported.

So far, only $1.5 billion is available for compensation with $20 billion missing. Frank DiPascali Jr., Madoff's former chief financial officer, and his wife agreed to forfeit their Bernardsville, N.J., house, valued at more than $1 million, and other personal property.

DiPascali is awaiting sentencing while Madoff is in a federal prison in Butner, N.C., sentenced to 150 years.

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