ALBANY – A divorcing husband who pushed to retain what he mistakenly perceived as an account worth millions of dollars invested with Bernard Madoff is not entitled to revise the monetary settlement he reached with his ex-wife because the fund was later revealed to be a Ponzi scheme that was deemed worthless, the state Court of Appeals ruled.
The 6-0 court reversed an Appellate Division, First Department, ruling April 3, holding that Steven Simkin cannot argue entitlement to reopen the settlement case with ex-wife Laura Blank.
