The court-appointed trustee charged with recovering assets stolen by Ponzi schemer Bernard Madoff is ready to distribute $2.6 billion worth of recovered funds to the victims. This will be the first time that Madoff’s victims will receive recovered funds. Get the full story »
Inside these posts: Madoff trustee
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Trustee: Citi shopped Madoff to other banks
Citigroup Inc. tried to pass its exposure to Bernard Madoff to other banks just months before his epic fraud was revealed, the Madoff trustee said in a lawsuit accusing a second major U.S. bank of unsavory dealings with the financier.
Trustee Irving Picard said red flags about Bernard L. Madoff Investment Securities LLC were apparent to Citi as early as 2005, according to court papers unsealed Monday. The lawsuit seeks $425 million from the bank. Get the full story »
Madoff trustee sues Mets’ owner to recoup $300M
The owners of the New York Mets were accused of reaping $300 million of fictitious profits from Bernard Madoff’s record Ponzi scheme, a lawsuit by the trustee seeking money for Madoff’s victims said. Get the full story »
