Madoff's Relatives & Employees Face 40 New Lawsuits

[Hissyspit]

Source: Reuters

Madoff's relatives and employees face 40 new lawsuits
Fri Nov 26, 2010 11:46pm EST

NEW YORK (Reuters) - The trustee seeking to recover money for defrauded Bernard Madoff investors said he filed 40 lawsuits on Friday, including several against relatives of the convicted money manager.

Trustee Irving Picard filed suits against Madoff's wife, Ruth Alpern Madoff, his sister and his nephew. Ruth's sister and relatives, as well as former employees of Bernard L. Madoff Investment Securities LLC, and their relatives, also face suits which in total aim to recapture $69 million, Picard's law firm said in a statement.

The once-respected Madoff is in prison after his massive Ponzi scheme was uncovered late in 2008. Irving's legal actions have piled up in the last few days, ahead of a December 11 legal deadline.

"The complaints filed today are a continuation of our recovery efforts against the Madoff relatives and employees who were closest to the center of the fraud and who were, in many cases, among those who benefited most from the Ponzi scheme," Picard said in a statement.

Read more: http://us.mobile.reuters.com/article/idUSTRE6AQ0DK20101127?ca=rdt

[xchrom]

1. Recommend

[indimuse]

2. KNR! n/t

[24601]

3. Uncle Bernie was a world-class Democratic contributor. Is the

trustee seeking to recover any of those contributors?

http://www.newsmeat.com/fec/bystate_detail.php?last=Madoff&first=Bernard

[herbm]

4. How much did the US recover from Tom Delay, the GOP, and Jack Abramoff?

[24601]

5. It's OK if you don't know the answer. You don't have to dodge the

question - we won't judge you on that. Of course changing the subject is a tired debating trick that just doesn't work anymore.

[herbm]

6. A simple question and part of the issue. If the question takes you away from bashing a particular

party then you aren't interested in the issue. You just want to tweak Democrats. Hell, I'm a Republican and I can see that. Donating to Democrats wasn't even a piece of the crime Madoff pulled off and to impugn Democrats by implying some sort of aid or abetting is a diversion from the damage Bernie did. Paticularly since it was GOP controlled Security Exchange Commission that allowed his crao to progress.

Though a tenth(12%) of the sum donated, Bernie gave money to Republicans, too. Including John McCain, Former Texas Rep. Jack Fields, Former N.Y. Rep. Vito Fossella, Former Louisiana Rep. "Billy" Tauzin, Former N.Y. Rep. Daniel Frisa, and Former N.Y. Sen. Alfonse D'Amato.

The Dems donated the money to charities and the Republicans kept it. This info was gathered from Fox

http://www.foxnews.com/politics/2008/12/15/madoff-hefty-political-contributions-officials/

One of the few times I'll ever cite Fox but I had a feeling you'd trust that source.

[ElsewheresDaughter]

8. someone doesn't like dems eh?

[herbm]

10. And as some sort of diversion from the real issue: Bernie Madoff. He wasn't that generous to either

party, he made some donations (small compared to the total Bill Gates donated to W alone, say)that don't even show up on the ledger. The money should be returned, but lets get the political cant out of it put it into perspective.

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11. The source is irrelevant - if the money was stolen from Bernie's

investment victims, why isn't the money turned over to the trustee instead of to the trustee who is trying to recover whatever funds may be paid back.

I personally don't visit faux but looked over the link you provided. It said of the $100,000+ donated, Schumer was donating $6K to charity and was silent on the rest - not indicating whether they kept it or not. Where is your info that anyone else in either party did or didn't keep it other than Schumer? It wasn't in the report you cited.

The issue is about reimbursing victims - you are the one(s) changing it to bashing parties.

[herbm]

12. You bashed a party by mentioning only Democrats. I agree that putting the money to charity is not

the correct thing to do, but it was much better than what the party you never mentioned did - allow Madoff to pull his stunt while they held onto the cash. All I did was round out your implication with an application of a rare factual piece from Fox.

http://www.weeklystandard.com/weblogs/TWSFP/2009/03/senate_dems_belatedly_donate_m_1.asp

The DNC has held onto $100,000, State Secty Clinton has held onto her several thousand and Schumer gave back all of his $27,000. The Republicans held onto thiers, too.

And the money that Delay illegaly spread around to nothing but GOP officials, that topped the amount given by Bernie? Not a penny returned or donated to charity.

And I'm a Republican.

[herbm]

7. The total sum was about $25,000 a year for eight years or so. Not world class at all.

Compare to Meg Whitmans $125M donation to herself, not even on the map.

[Xenotime]

9. Go after those rich, cheating fucks...