Estates of Bernie Madoff’s two sons to keep nearly $4 million

FILE - In this March 10, 2009 file photo, Bernard Madoff, right, arrives at Manhattan federal court for a hearing to discuss potential conflicts of interest between him and his lawyer in New York. According to a bankruptcy court filing, the estates of Ponzi king Bernard Madoff’s two sons will get nearly $4 million after about $18 million in assets are taken away as part of a legal settlement. The settlement terms were contained in papers filed by a court-appointed trustee Monday, June 26, 2017, in Manhattan U.S. Bankruptcy Court. (AP Photo/ Louis Lanzano, File)

NEW YORK (AP) — A bankruptcy court filing shows the estates of Wall Street swindler Bernard Madoff’s two sons will get to keep nearly $4 million once about $18 million in assets is taken away as part of a legal settlement.

The settlement terms were contained in papers filed by a court-appointed trustee Monday in U.S. Bankruptcy Court in New York. The deal leaves Mark Madoff’s estate with $1.75 million and Andrew Madoff’s estate with $2 million.

The brothers were business and regulatory managers at Bernard Madoff’s private investment securities business.

Their dad admitted in 2009 that his multi-decade fraud cost thousands of investors roughly $20 billion they had trusted with him. The 79-year-old is serving a 150-year prison sentence.

Mark Madoff hanged himself in 2010. Andrew Madoff died of cancer in 2014.

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