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 |2010-12-22T13:39:08+00:00December 22nd, 2010|Uncategorized|Comments Off on Madoff trustee files nearly 60 lawsuits to recover money for victims