madoff victims

Litigation Against Mark Madoff to Continue Despite Suicide

Mark Madoff may be dead, but the litigation against him isn%u2019t going away. Last week, a court-appointed trustee sued Mark Madoff along with two of his siblings, saying they had used ill-gotten gains from their father%u2019s fraud.

Madoff Trustee Files Suit Against Seven Banks for $1 Billion

Irving Picard, the trustee trying to recover money on behalf of the victims of Bernie Madoff, said he filed lawsuits against seven global banks seeking total compensation of more than $1 billion. Picard filed complaints against Citibank (C), Natixis SA, Fortis, ABN AMRO Bank, Banco Bilbao Vizcaya Argentaria, Nomura and Merrill Lynch, which is now part of Bank of America Corp. (BAC), Reuters reported.

Madoff Trustee Sues Owner of New York Mets

Irving Picard, the trustee charged with recovering assets on behalf of Bernie Madoff%u2019s victims, sued the owner of The New York Mets. The suit against Sterling Equities, a real-estate developer, was sealed as the parties are currently in negotiations, CNN said. The suit was filed in U.S. bankruptcy court in New York.

Some Madoff Victims Pursued by Trustee for Damages

Irving Picard, trustee for the victims of the Madoff fraud, has a new target - other Madoff clients. Picard has filed lawsuits against hundreds of defendants saying they profited from Madoff's giant Ponzi scheme, withdrawing more than they invested, CNN reported. He's seeking damages on behalf of those who lost money on their investments.

Madoff Trustee Sues HSBC for $9 Billion

Irving Picard, the trustee seeking money for victims of the Bernie Madoff scam, is suing HSBC Holdings (HBC) and feeder funds for at least $9 billion. Picard said that HSBC and a network of funds in Europe, the Caribbean and Central America sent Madoff more than $8.9 billion in business while ignoring indications that he was engaged in fraud, The Wall Street Journal reported.

Madoff Trustee Sues UBS for $2 Billion

The trustee representing investors cheated by Bernie Madoff sued Swiss bank UBS (UBS) for $2 billion. The suit alleges that UBS collaborated with Madoff%u2019s Ponzi scheme, The Associated Press reported. The suit alleges 23 counts of financial fraud and misconduct by UBS and related entities and individuals and seeks to recover $2 billion for Madoff's victims.

Two More Arrested in Madoff Ponzi Scheme

Annette Bongiorno and Joann "Jodi" Crupi, both long-term employees at Bernard L. Madoff Investment Securities, were arrested Thursday and charged with multiple counts of conspiracy, securities fraud, falsifying documents and tax evasion.

Bernie Madoff's Personal Items Go on Sale

The public will have the chance to buy a personal piece of crime history as some of Bernie Madoff's intimate possessions go on sale. Auctioneers are offering items including Madoff%u2019s bed linens, Rod Stewart CDs and cuticle scissors, The Wall Street Journal reported.

Bernie Madoff's Prized Possessions Up For Auction

Bidders will have the chance to dip into the lifestyle of convicted Ponzi schemer Bernie Madoff, when a collection of his prized possessions are put up for sale. Among the goods to go under the hammer are a Steinway & Sons grand piano, a woman%u2019s ring with a 10.54-carat diamond and a miniature bronze bull, USA Today reported.

Feds Seek Millions From Madoff Employee

The U.S. Attorney's office filed suit to reclaim more millions for victims of Bernard Madoff, this time seeking some $5.1 million in assets from Annette Bongiorno, an employee of Madoff for some 40 years, and her husband. The assets include over $2 million in cash plus titles to homes in New York and Florida, a Bentley, and two Mercedes.

Court Appointee Pursues Madoff Investors

A court-appointed trustee charged with recovering money for the victims of Bernard Madoff is preparing a series of lawsuits to win back money from investors who gained financially from their association with Madoff. Irving Picard told The Wall Street Journal he may sue a total of about 1,000 individual investors who withdrew more money from Madoff%u2019s firm that they invested.