NY trustee: Philanthropy invested with Madoff should have known returns were fraudulent

October 2nd, 2009 Madoff trustee sues Madoff's family for $198MNEW YORK — A trustee trying to recover Bernard Madoff's assets to reimburse investors has sued his brother, sons and a niece to recover nearly $200 million. The lawsuit was filed Friday in U.S.

October 1st, 2009 Madoff trustee seeks $7B from Fla. philanthropistNEW YORK — A trustee trying to recover Bernard Madoff's assets for jilted investors now says a Florida philanthropist should return $7 billion that he received from Madoff.

September 2nd, 2009 NEW YORK - A court-appointed trustee overseeing the Madoff case is poised to file civil complaints against jailed Ponzi King Bernie Madoff's two sons Mark and Andrew - who ran their father's trading division - and Peter Madoff, Bernie's brother and company's chief compliance officer. Trustee Irving Picard will seek in excess of 50 million dollars, including at least 30 million dollars in loans to the sons.

July 15th, 2009 NY trustee sues offshore hedge fund in Madoff caseNEW YORK — The trustee overseeing the liquidation of Bernard Madoff's assets has sued a hedge fund based in the Cayman Islands, claiming it should return $587 million it earned with Madoff to investors wiped out by the disgraced financier's colossal fraud. The complaint filed Tuesday in Manhattan bankruptcy court against the Herald Fund also names HSBC Bank as a defendant.

July 1st, 2009 $231 million set aside for Madoff claimsNEW YORK — A court-appointed trustee unraveling Bernard Madoff's massive fraud so far has allotted $231 million from a securities industry fund that compensates victims — a record amount for the fund, but a mere fraction of what was lost. In a statement Wednesday, Trustee Irving Picard said to date he has processed 543 claims brought by Madoff's burned clients, and concluded they are owed nearly $3 billion.

July 1st, 2009 Group says $231M set aside for Madoff claimsNEW YORK — A group funded by the securities industry has set aside $231 million to cover claims by Bernard Madoff's burned investors. The announcement was made Wednesday by court appointed trustee Irving H.

May 14th, 2009 Trustee: Nearly 9,000 claims in Madoff scamNEW YORK — The trustee overseeing the liquidation of Bernard Madoff's assets says he's received almost 9,000 claims from the disgraced financier's victims. Court-appointed trustee Irving Picard told reporters Thursday on a conference call that he's identified about $1 billion in assets that will be used to pay the claims.

May 12th, 2009 Trustee sues money manager in Madoff caseNEW YORK — The trustee overseeing the liquidation of disgraced financier Bernard Madoff's assets has sued another investment fund. The lawsuit filed Tuesday in bankruptcy court in Manhattan accused the Harley International Ltd.

May 9th, 2009 Trustee unveils Madoff hardship programNEW YORK — A trustee wants to give a break to investors hardest hit by the Bernard Madoff fraud. Irving Picard unveiled a hardship program Friday that will put the victims first in line for up to $500,000 of relief.

May 8th, 2009 Madoff NY trustee sues fund managerNEW YORK — The trustee overseeing the liquidation of Bernard Madoff's assets sued a prominent hedge fund manager for more than $500 on Thursday, claiming he was aware the disgraced financier was a swindler. The complaint filed in bankruptcy court in Manhattan called J.

May 2nd, 2009 NY trustee in Madoff scandal sues LA money managerNEW YORK — A longtime Los Angeles money manager and philanthropist raked in more than $1 billion in false earnings from disgraced financier Bernard Madoff, a trustee overseeing the liquidation of Madoff's assets claimed Friday. In a complaint filed in Bankruptcy Court in Manhattan, court-appointed trustee Irving Picard alleged that Stanley Chais must have known Madoff was running a massive Ponzi scheme and should be forced to forfeit the earnings to help pay claims from thousands of burned investors.

May 2nd, 2009 Money manager at top of Madoff speed dial is suedNEW YORK — As the first speed dial entry at Bernard Madoff's investment firm, longtime money manager and close friend Stanley Chais must have known about the disgraced financier's multibillion-dollar Ponzi scheme, a complaint filed in Bankruptcy Court claims. But Chais has insisted he was a victim of Madoff.

April 24th, 2009 Madoff investors ordered to return false profitsNEW YORK — The trustee unraveling Bernard Madoff's Ponzi scheme is threatening legal action to recover $735 million from investors who unwittingly made money off the swindle. For decades, Madoff paid steady profits to his clients, telling them the money came from the stock market.

April 23rd, 2009 Trustee: 3 new bids arrive for Madoff's businessNEW YORK — A trustee says three new bids have been made for the securities-trading operation once run by fallen financier Bernard Madoff (MAY'-dawf). Trustee Irving Picard announced Wednesday the bids for the legitimate market-making business had been made to compete with one from Castor Pollux Securities.

April 7th, 2009 NEW YORK - An investment advisor who allegedly steered his clients' money to Bernard Madoff's massive Ponzi scheme was charged with fraud Monday. J. Ezra Merkin invested more than $2.4 billion of his clients' money with Madoff, who pleaded guilty last month to the $50-billion scheme in which funds from new investors were used to pay off earlier ones.