Quote of the week

"[People] don’t expect retirement to begin with social security and sit on the back deck in a lounge chair for the rest of their lives. This group really wants to remain active."

Jeff Cimini, head of personal retirement at Merrill Lynch

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Mark Madoff, another of Bernard Madoff's sons, committed suicide in December 2010.

Earlier this week, this publication reported that plans to distribute more recovered funds from Bernard Madoff’s fraud scheme can proceed, after the US Supreme Court declined to review a legal challenge to the trustee’s calculation of net equity.

According to the Reuters report, Peter Madoff is charged with one count of conspiracy to commit securities fraud and mail fraud as well as making false statements about the firm's compliance program and investment advisory business. A second charge accuses him of falsifying records of an investment advisor.

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