▁could ▁have ▁discovered ▁the ▁fra ud ▁is ▁not ▁sufficient ." ▁ ▁In ▁December ▁ 2 0 1 0 , ▁Ir ving ▁Pic ard , ▁the ▁court - app oint ed ▁trust ee ▁in ▁the ▁M ado ff ▁bank rupt cy , ▁su ed ▁T rem ont ▁for ▁over ▁$ 3 ▁billion ▁in ▁customer ▁money ▁that ▁T rem ont ▁lost ▁by ▁invest ing ▁with ▁M ado ff . ▁The ▁law suit ▁alleg ed ▁that ▁T rem ont ▁failed ▁to ▁perform ▁independent , ▁reasonable , ▁and ▁meaning ful ▁due ▁dil ig ence ▁of ▁M ado ff . ▁In ▁July ▁ 2 0 1 1 , ▁T rem ont ▁Group ▁agreed ▁to ▁sett le ▁the ▁law suit ▁by ▁pay ing ▁a ▁$ 1 ▁billion ▁c ash ▁settlement . ▁ ▁See ▁also ▁List ▁of ▁invest ors ▁in ▁Bernard ▁L . ▁M ado ff ▁Sec ur ities ▁ ▁References ▁ ▁External ▁links ▁Group ▁Home page ▁ ▁Category : M ado ff ▁invest ment ▁sc andal ▁Category : R ye , ▁New ▁York ▁Category : H edge ▁funds ▁Category : Comp an ies ▁based ▁in ▁West chester ▁County , ▁New ▁York ▁Category : Comp an ies ▁established ▁in ▁ 1 9 8 5 ▁Category : P riv ately ▁held ▁companies ▁based ▁in ▁New ▁York ▁( state ) ▁Category : 1 9 8 5 ▁establish ments ▁in ▁New ▁York ▁( state ) <0x0A> </s> ▁Cop el atus ▁co opera e ▁is ▁a ▁species ▁of ▁div ing ▁be et le . ▁It ▁is ▁part ▁of ▁the ▁genus ▁Cop el atus ▁of