EFG Bank Sued Over Madoff Ponzi Scheme

MIAMI — A class action complaint has been filed in the U.S. District Court for the Southern District of Florida on behalf of customers of EFG Capital International Corp. and EFG Bank who lost money in the Madoff Ponzi scheme. Bernard Madoff was arrested, pleaded guilty and was sentenced to 150...

N.Y. AG Sues Money Manager In Madoff Scandal

NEW YORK – (AP) New York's attorney general has sued a hedge fund management firm and two of its former executives for failing to alert clients about Bernard Madoff's investment practices. Andrew Cuomo's office claims the firm Ivy Asset Management discovered a decade ago that Madoff...

Madoff Trustee Sues HSBC For $9 Billion In N.Y. Court

NEW YORK - (AP) HSBC prolonged disgraced financier Bernard Madoff's ability to burn investors by "engineering a labyrinth" of international sources of funding for his epic Ponzi scheme, a court-appointed trustee alleged Sunday. Trustee Irving Picard announced a lawsuit in federal bankruptcy...

N.Y. Trustee Seeks $1 Billion From 7 International Banks

NEW YORK - (AP) Seven global banking institutions enabled disgraced financier Bernard Madoff's Ponzi scheme by "creating and offering derivative investment products linked to various Madoff feeder funds," a court-appointed trustee alleged Wednesday. Trustee Irving Picard announced a lawsuit...

Madoff Trustee Gets 'Game Changing' $7 Billion Settlement

NEW YORK - (AP) The widow of a Florida philanthropist who had been the single-largest beneficiary of Bernard Madoff's colossal Ponzi scheme has agreed to return $7.2 billion in bogus profits to the victims of the fraud, she and authorities announced Friday. The trustee recovering money for Madoff's...