Judge Rules That Madoff Trustee Failed To Plead RICO Claims

NEW YORK - The liquidation trustee for Bernard L. Madoff Investment Securities LLC (BLMIS) has failed to plead his Racketeer Influenced and Corrupt Organizations (RICO) Act claims against defendants alleged to have conspired to funnel investments into BLMIS because he failed to show that the defendants' conduct "is both factual and the proximate cause of the injury alleged," a federal judge in New York ruled in a Feb. 22 opinion (Irving H. Picard v. Sonja Kohn, et al., No. 11-1181, S.D. N.Y.; 2012 U.S. Dist. LEXIS 22083). Full story on lexis.com