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

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 in federal bankruptcy court in Manhattan that seeks to recover more than $1 billion. . . . Full version available to lexis.com subscribers.