A huge settlement of claims by Madoff trustee Irving Picard is in the works, according to The New York Times. Mr. Picard’s legal rampage has ensnared the New York Mets, HSBC, JPMorgan Chase and scores of others, and now he looks ready to add $7 billion to the Bernie Madoff victims’ Read More
Following the climax of Madoff trustee Irving Picard’s lawsuit frenzy, The New York Times reports that hedge funds and other investors in distressed assets are offering Madoff victims cash up front in exchange for the chance to reap big payouts once Mr. Picard’s crusade gets hashed out in courts.
After Mr. Picard went after Read More
Convicted Ponzi schemer Bernie Madoff will not be attending the funeral of his son, Mark, who committed suicide this past weekend, The New York Times reports.
Mr. Madoff’s lawyer, Ira Lee Sorkin, told The Times that Bernie is staying away from the service “out of consideration for the family’s privacy.” Mr. Sorkin also told Read More
Mark Madoff, son of convicted Ponzi scheme operator Bernie Madoff, was found dead in his apartment this morning, the two-year anniversary of Bernie Madoff’s confession to his sons that he had been running a fraud. The New York Post reports:
Officers were called to 158 Mercer Street to respond to a report that Read More
As the deadline approaches for Madoff crusader Irving Picard to file lawsuits against any potential malefactor he can think of, the trustee is going for the gusto. He’s suing Austrian banker Sonja Kohn for $19.6 billion and calling her Madoff’s “criminal soul mate, whose greed and dishonest inventiveness equaled his own.” Ouch.
The resemblance, in Read More
Bernie Madoff Ponzi avenger Irving Picard is doing something long-suffering Queens baseball fans have often dreamed of: He’s suing the owners of the New York Mets.
Of course, Mr. Picard isn’t seeking redress for the team’s ignominious standing in major-league baseball. Instead, he’s going after Mets owner Fred Wilpon, Sterling Equities and others Read More
Carl Shapiro, a 97-year-old Boston philanthropist endowed with the dubious distinction of being an early investor in Bernie Madoff’s Ponzi scheme (and a longtime friend to the fraudster), has agreed to give $625 million to the government, Bloomberg reports.
“In the decades they did business with BLMIS, the Shapiro IA account holders invested Read More
Irving Picard, the trustee in charge of securing money stolen by Ponzi schemer Bernie Madoff, is accusing HSBC of continuing to deal with Madoff feeder funds despite the London bank’s significant suspicions about the fund. It is on those grounds that Mr. Picard is suing HSBC for $9 billion.
As was the case with Read More
Fresh off his $6.4 billion filing against JPMorgan Chase, Madoff Ponzi avenger Irving Picard is setting his sights on London-based bank HSBC. Picard is hitting up HSBC for $9 billion. He’s gone hyper-litigious of late, suing more than 100 people and institutions as a Dec. 11 deadline for filings to reclaim ill-gotten Madoff Read More