'Largest Single Forfeiture In U.S. History' Announced In Madoff Lawsuit

NEW YORK - (Mealey's) In what is being called the "largest single forfeiture in U.S. history," the U.S. attorney for the Southern District of New York and others announced Dec. 17 that they have reached a $7.2 billion settlement with the estate of deceased investor Jeffrey M. Picower to...

Former BLMIS Controller Pleads Guilty To Role In Massive Ponzi Scheme

NEW YORK - (Mealey's) The former controller of Bernard L. Madoff Investment Securities LLC (BLMIS) has pleaded guilty to criminal counts and agreed to cooperate with the U.S. government in its ongoing investigation into the fraud committed at BLMIS, according to a Dec. 19 press release issued by...

Madoff Trustee Agrees To $162 Million Settlement With New York Mets' Owners

NEW YORK - (Mealey's) The owners of Major League Baseball's New York Mets and the liquidation trustee of Bernard L. Madoff Investment Securities LLC (BLMIS) agreed on March 19 to a $162 million settlement of claims relating to the defendants' alleged profiting from Madoff's massive Ponzi...

$410 Million Settlement Reached With Controller Of 4 Madoff Feeder Funds

NEW YORK - (Mealey's) In what he called "one of the largest agreements of its kind," New York Attorney General Eric. T. Schneiderman on June 25 announced that he had reached a $410 million settlement with J. Ezra Merkin for his role in the Bernard L. Madoff Investment Securities LLC (BLMIS...

Feeder Funds To Pay Nearly $220 Million To Settle Madoff Ponzi Scheme Fraud Claims

NEW YORK - (Mealey's) 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...

2nd Circuit: Madoff Trustee Cannot Sue Banks On Behalf Of Customers

NEW YORK - (Mealey's) The Second Circuit U.S. Court of Appeals on June 20 affirmed a district court's ruling that Bernard L. Madoff Investment Securities LLC (BMLIS) trustee Irving H. Picard cannot sue JPMorgan Chase & Co., HSBC Holdings PLC, UBS AG and UniCredit SpA for the banks' alleged...