New York — Two groups of offshore funds that invested in Bernard Madoff’s fraudulent securities firm agreed to pay a combined $370m to resolve lawsuits by the court-appointed trustee raising cash for victims. Lagoon Investment and related funds will hand over about $240m, while Thema Fund and its affiliates will pay about $130m, trustee Irving Picard said in a statement on Tuesday. Details of the settlements were filed in US Bankruptcy Court in Manhattan, where the suits were filed in 2010. The deals were struck just one day after the estates of Madoff’s dead sons, Andrew and Mark, agreed to pay a total of $23m to settle lawsuits by the trustee accusing them of profiting from the scam for years. The trustee has so far raised more than $11.6bn for victims through hundreds of lawsuits against funds and customers who profited from the scam. Stephen Harbeck, CEO of the industry-financed Securities Investor Protection Corporation, which hired Picard, called the settlements "significant a...
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