Bernard Madoff’s lawyer has told a judge scheduled to sentence the disgraced financier next week that 12 years in prison will be sufficient punishment for the man who swindled tens of billions of investor’s dollars in one of history’s biggest frauds. Attorney Ira Sorkin also said in court papers made public Tuesday that his 71-year-old […]
A Spanish investor asked a court to order UBS AG’s Luxembourg unit to release documents to help show alleged wrongdoing by the bank over losses tied to Bernard Madoff. UBS’s Luxembourg unit, custodian bank of now defunct Luxembourg Investment Fund, should hand over documents including “an operational memorandum” mentioning UBS, the fund and Bernard L. […]
A court-appointed trustee unraveling Bernard Madoff’s massive fraud signaled Thursday that he may go after the disgraced financier’s family to pay victim claims, which have grown to almost 9,000. Legal action against the family “is a matter that’s being looked into,” trustee Irving Picard said during a telephone conference call with reporters. Picard already has […]
Fairfield Greenwich Group, the hedge fund that steered $7 billion to Bernard Madoff, faces new claims of fraud by investors who previously alleged negligence against co-founders Walter Noel, Jeffrey Tucker and Andres Piedrahita. The class-action suit, first filed in January in Manhattan federal court, was amended April 24 to include claims that the three co-founders […]
The trustee appointed to liquidate Bernard L. Madoff Investment Securities LLC sued Kingate Management Ltd. for the return of $255 million transferred to the firm’s funds in the months before Madoff’s collapse. Irving Picard, appointed under the Securities Investor Protection Act, filed a complaint April 17 in U.S. Bankruptcy Court in New York stating that […]