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$210 million settlement ends Madoff lawsuits


New York's attorney general says authorities have accepted $210 million to settle lawsuits against a BNY Mellon subsidiary for advising clients to invest with Bernard Madoff.


Madoff's Ponzi scheme sent him to federal prison.


The suits were filed by Attorney General Eric Schneiderman, the U.S. Labor Department and private plaintiffs against Ivy Asset Management. The deal also provides for about $9 million in payments by other defendants.


Schneiderman says Tuesday's settlement, combined with anticipated settlements from Madoff bankruptcy proceedings, is expected to return nearly all of the original investments to those who were defrauded.


Between 1998 and 2008, authorities say Ivy was paid more than $40 million to give advice and conduct due diligence for clients with large Madoff investments.


BNY Mellon did not immediately reply to a request for comment.


Several Central New York pension funds were impacted by the settlement.


Here is the list of the effected funds:


International Union Of Operating Engineers Local 17 - Long Island

Bricklayers and Allied Craftworkers Local #2 - Saratoga, Franklin, Essex, Warren, Clinton

Bricklayers and Allied Craftworkers Local #3 - Hamilton, Fultion, Albany, Columbia, Greene, Schenectady

Buffalo Laborers 210 - Buffalo

Building Industry Employers - Statewide

Building Trade Employers - Statewide

Central NY Laborers - Central

Empire State Carpenters - Niagra, Buffalo, Rochester

International Brotherhood of Electrical Workers 1249 - Syracuse

International Brotherhood of Electrical Workers 139 - Elmira

International Brotherhood of Electrical Workers 241- Ithica

International Brotherhood of Electrical Workers 325 - Binghamton

International Brotherhood of Electrical Workers 43 - Syracuse, Utica

International Brotherhood of Electrical Workers 910 - Jefferson, St. Lawrence Essex Lewis Clinton Franklin

International Union Of Operating Engineers Local 825 - Middletown

International Union Of Operating Engineers Local 463 - Niagara

Iron Workers Local 6 - Buffalo

Iron Workers Local 9 - Niagra

Laborers Local 103

Laborers Local 186 - Plattsburgh

Laborers Local 214 - Oswego

Laborers Local 73

NYS Lineman - Statewide

Plumbers and Steamfitters Local 73 - Oswego, Jefferson St. Lawrence Cayuga Lewis

Plumbers and Steamfitters Local 112 - Binghampton, Utica , Rome

Plumbers and Steamfitters Local 267 - Central

Rochester Laborers - Rochester

Roofers Local 195 - Syracuse

SeIU 1199 - Statewide

SEIU 2000 - Albany, Rochester, Buffalo, Syracuse

Syracuse Builders Exchange - Syracuse

United Association of Plumbers & Steamfitters Local 73 - Oswego, Jefferson St. Lawrence Cayuga Lewis

Upstate NY Bakery Drivers - Syracuse

Upstate NY Engineers - Albany, Syracuse Rochester

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