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Madoff: A buyer emerges for scandalized firm; Publishing: Sun-Times heads to bankruptcy court; Investment banking: Goldman bails out insiders; Silicon Valley: Layoffs at Google; Autos: Peugeot CEO ousted

Madoff: A buyer emerges for scandalized firm

The legitimate side of Bernard Madoff’s investment business has found a buyer, said Diana Henriques in The New York Times. Boston’s Castor Pollux Securities has agreed to buy Bernard L. Madoff Investment Securities, a dealer in Nasdaq-listed stocks, from the federal government, which seized Madoff’s businesses after his enormous Ponzi scheme came to light. Castor Pollux will put up only $3 million for the operation but could eventually pay up to $12 million more, depending on the unit’s earnings. Madoff called the trading operation “profitable and successful” when pleading guilty to fraud charges last month, claiming it was worth $700 million.

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