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New York Lawsuit Seeks $30 Million In Madoff Family Money

NEW YORK - (AP) The court-appointed trustee seeking to recover billions of dollars lost by jailed financier Bernard Madoff sued three entities Thursday to get back more than $30 million that he said the Madoff family had invested, mostly in oil and gas properties and technology companies. The three lawsuits...

Madoff Trustee Sues UBS, Others For $2B

NEW YORK - (AP) The trustee who is trying to recover money for cheated investors in jailed Bernard Madoff's fraud has sued the Swiss bank UBS AG and related entities and individuals after alleging they collaborated in his Ponzi scheme. Trustee Irving Picard announced Wednesday the filing of the...

'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...

Madoff Lawsuit: Mets Owners Owe Victims $300 Million

NEW YORK - (AP) The owners of the Mets turned a blind eye to Bernard Madoff's massive fraud, reaping $300 million in false profits and using a large chunk to run the team, according to a lawsuit unsealed Friday. The lawsuit claims the owners were so dependent on the disgraced financier's. . ...

Top SEC Lawyer Named In Madoff Lawsuit

NEW YORK - (AP) The top lawyer at the Securities and Exchange Commission has been named as a defendant in a lawsuit by the trustee who's trying to recover money for victims of Bernard Madoff's Ponzi scheme. The lawsuit was filed by Irving Picard against David Becker, and claims Becker's family...

$212 Million Settlement Reached With Madoff Feeder Funds

NEW YORK - (Mealey's) The liquidation trustee of Bernard L. Madoff Investment Securities LLC (BLMIS) has reached a $212 million settlement with two BLMIS feeder funds, according to documents filed May 18 in a New York federal bankruptcy court ( Securities Investor Protection Corp. v. Bernard L. Madoff...

New York Mets Owners Challenge Madoff Trustee Lawsuit

NEW YORK - (AP) New York Mets executives argued Thursday that a lawsuit claiming they should have heeded warning signs of a 25-year fraud carried out by jailed financier Bernard Madoff is "a fiction" and should be thrown out. "There were no warnings," lawyers for Mets owner Fred Wilpon...

Goodwin Procter Expands Securities Litigation Practice With Addition Of Daniel J. Tyukody In Los Angeles

BOSTON - Goodwin Procter LLP , a national Am Law 50 firm, has announced that Daniel J. Tyukody has joined the firm's Litigation Department in Los Angeles as a member of its Securities Litigation & White Collar Defense Practice. He will focus on all aspects of securities litigation and regulatory...

The Week In Securities Litigation: Scandal Surfaces Again At The SEC

Scandal surfaced again at the SEC this week. The SEC IG referred a matter involving the former general counsel of the agency to the DOJ. The matter centers on conflicts arising out of his handling of the Madoff clawback claims for the Commission. That referral was followed by testimony before a House...

In Amended Complaint, Madoff Trustee Seek $226 M From Madoff Management

The court-appointed trustee overseeing the unraveling of Bernard Madoff's massive Ponzi scheme has filed an amended complaint in which he is seeking the return of $226.4 million from several Madoff family members including Madoff's brother, sons, and niece (the "Madoff Defendants")...

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...

$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...

The Week In Securities Litigation: Madoff Brother Agrees To Plead Guilty To Criminal Charges

There were news reports this week that Ponzi king Bernard Madoff's brother, Peter, has agreed to plead guilty to criminal charges that will land him in jail for ten years. At the same time the NY AG settled a case against a the operator of Madoff feeder funds, making a significant recovery for investors...

Parties Seek Approval Of $80 Million Settlement In Madoff Feeder Fund Suit

NEW YORK - (Mealey's) Investors on Nov. 6 asked a federal judge in New York to preliminarily approve a potential $80.25 million settlement of claims that defendants concealed that the investors' funds were being placed in accounts that were part of Bernard L. Madoff's massive Ponzi scheme...

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...