Judge Dismisses $20 Billion in Madoff Claims Against JP Morgan and UBS

In a severe blow to the quest to recover funds for the benefit of victims of Bernard Madoff's $50 billion Ponzi scheme, a New York federal judge threw out $20 billion of common law claims that the court-appointed trustee had asserted against banking giants JP Morgan Chase & Co. ("JP...

Madoff Trustee Files Amended Complaint Seeking $226 Million From Madoff Family Members

The court-appointed trustee overseeing the unraveling of Bernard Madoff's massive Ponzi scheme has filed an amended complaint in which he is seeking the return of $226.4 million from several Madoff family members including Madoff's brother, sons, and niece (the "Madoff Defendants"...

Feeder Funds to Pay Nearly $220M to Settle Madoff Ponzi Scheme Fraud Claims

NEW YORK - Four Bernard L. Madoff Investment Securities LLC feeder funds and several of their current and former owners and officers have agreed to pay nearly $220 million to settle claims that they breached their fiduciary duties under the Employee Retirement Income Security Act by "recommending...

Madoff Office Artwork, Including Warhol and Matisse Pieces, Set for Auction

A federal judge has cleared the way for the public auction of a vast collection of fine art that once graced the walls of Bernard Madoff's now-defunct brokerage firm. The collection, which is valued at nearly $600,000 and includes pieces by Henri Matisse, Pablo Picasso, and Andy Warhol (one piece...

Court: Madoff Victims Can't Get Interest or Inflation on Losses

A New York federal appeals court sided with the court-appointed bankruptcy trustee for Bernard Madoff's massive Ponzi scheme in ruling that Madoff's victims were not entitled to have their losses upwardly adjusted for interest or inflation. The ruling by the Second Circuit Court of Appeals means...