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November 8, 2011

Lawsuit against Madoff family grows to $226.4 mln

"The trustee seeking money for Bernard Madoff's victims has increased the size of his lawsuit against family members of the imprisoned Ponzi schemer to $226.4 million.

Irving Picard, the trustee, in an amended complaint, said the Madoffs were 'completely derelict' in overseeing operations at Bernard L. Madoff Investment Securities LLC, which collapsed when Madoff was arrested on Dec. 11, 2008."

Read more here.

November 8, 2011 in Current Affairs | Permalink

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