Former Fugitive Marc Rich Lost With Madoff

Disgraced financier's latest victim is a disgraced financier
By Clay Dillow,  Newser Staff
Posted Jan 9, 2009 11:07 AM CST
Marc Rich is shown in this Nov. 27, 2000, file photo in Switzerland.    (AP Photo/Urs Flueeler, file)
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(Newser) – Many of Bernard Madoff’s former clients are seeking legal recourse to recover their money, but onetime fugitive Marc Rich likely won’t be among them, Andrew Ross Sorkin writes in the New York Times. Rich, who lost $10 million to $15 million through a third party who invested with Madoff, is best known as the recipient of a controversial 11th-hour pardon from Bill Clinton.

Rich’s past—he fled the country in 1983 to escape prosecution for his own financial crimes and was pardoned on the final day of the Clinton administration—makes his appearance in an American court to seek redress highly unlikely, legal experts say. “If there’s anything that required him to show up, he’s not coming,” one lawyer said.