Money: Now Wall Street Pays

The fraud settlement won't recover all your losses, but here's how to get what you can

George Zicarelli, A 62-year-old videotape editor in New York City, claims he lost more than $455,000 by following the advice of a Wall Street superstar. He invested his life savings in the telecom stock Global Crossing. And he did it, he says, based on tainted research reports by former Salomon Smith Barney analyst Jack Grubman, a onetime guru who has been barred from the securities industry for life.

Zicarelli is one of many burned individuals with a keen interest in the nearly $400 million restitution fund set aside for investors last week as part of the final, $1.4 billion settlement between...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!