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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...

Gibraltar Pays $65 Million To Settle Rothstein Ponzi Claims

FORT LAUDERDALE, Fla. - (Mealey's) The trustee for a bankrupt feeder fund and the trustee of convicted Ponzi schemer Scott W. Rothstein's law firm have agreed to an amended $65 million settlement with Gibraltar Private Bank and Trust Co., a bank Rothstein is alleged to have used in his scam,...