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The lawsuit alleges that Wachovia accepted fraudulent, unsigned checks that withdrew funds from the accounts of victims, often elderly.
The approach benefits investors who came late to the scheme or never withdrew funds over the years.
It took me nine days to resolve a mistake made at a national bank, in which another bank customer withdrew funds from my checking account.
Such a plan need not be declared to the I.R.S. in advance, Mr. Iacolucci said, so someone who withdrew funds last year could do the calculation this year "and possibly find a safe harbor".
Both SIPC and Mr. Picard, the trustee for the Madoff estate, have proposed that the customers who withdrew funds before the fraud was uncovered should be allowed to keep only as much money as they put in.
It was less than 20 years ago that the National Institutes of Health abruptly withdrew funds for a conference on genetics and crime after outraged complaints that the idea smacked of eugenics.
Similar(47)
In 2011, the Department of Health withdrew funding for Breastfeeding Week.
The chancellor, George Osborne, withdrew funding for big road improvements in the area.
Latin American Women's Aid in north London is under threat of closure after Islington Council withdrew funding.
In 1904, as a cost cutting exercise, the government withdrew funding and the observatory fell into ruin.
In the United States, horses have not been killed for human consumption since 2007, when Congress withdrew funding for slaughterhouse inspectors.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com