Madoff trustee files nearly 60 lawsuits to recover money for victims

[JURIST] Irving Picard, the trustee charged with recovering money for the victims of the Bernard Madoff [JURIST news archive] scandal, has filed close to 60 lawsuits in the past three weeks attempting to recover more than $40 billion from numerous banks, hedge funds and individuals. The influx of litigation [FT report] coincided with the Saturday deadline for seeking compensation. Picard has spent two years investigating, and the various resulting lawsuits have culminated in more than 1,100 subpoenas. The suits implicate…

By | 2011-02-08T21:13:56+00:00 February 8th, 2011|Uncategorized|0 Comments

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