Claims against Bernard L. Madoff Investment Securities LLC fell by at least 17 percent in value after U.S. District Judge Jed Rakoff ruled that the firm’s trustee can only try to recover money customers took out in the last two years of the con man’s swindle. Irving Picard, the trustee hired for the recovery, has filed more than 1,000 suits seeking about $100 billion, including suits for fictitious profits over the last six years of Madoff’s operation, for principal from investors who allegedly had reason to suspect Madoff was a fraud, for money that flowed through feeder funds and overseas banks, and for “preferences,” sums that Madoff paid in the 90 days before bankruptcy. Read more on Bloomberg [...]

Stephanie Madoff Mack appeared on The View on October 24, 2011, in a follow up to her 20/20 interview with Chris Cuomo. Mack was interviewed by the co-hosts of The View, including Barbara Walters, Whoopi Goldberg, Joy Behar, Sherri Shepherd and Elisabeth Hasselbeck. Read more in the Examiner [...]

An investor in a fund that channeled money into Bernard Madoff’s Ponzi scheme asked a New York court to confirm a $7.01 million arbitration award. The investor, Moshael J. Straus, filed a petition in New York State Supreme Court in Manhattan on Oct. 22 seeking to confirm the award by the American Arbitration Association, according to court documents. Read Bloomberg Businessweek report [...]

U.S. District Judge Jed Rakoff shouldn’t enable the liquidator of Bernard Madoff’s firm to appeal a ruling that cut a $1 billion case against the New York Mets owners by two-thirds, the team owners said. Trustee Irving Picard assailed Rakoff’s ruling earlier this month, saying it “arbitrarily” allowed Fred Wilpon and Saul Katz to keep fictitious profits from the Ponzi scheme. Picard asked the judge to make a final ruling so he could appeal, or to allow an appeal before trial. The Major League Baseball team’s owners urged Rakoff to reject the request in a court filing. Read Bloomberg report [...]

Stephanie Madoff Mack, widow of Bernie Madoff’s son Mark, became the first member of the Madoff family member to speak publicly when her autobiography, “The End of Normal,” was released on Thursday. The book details Mack’s experiences with the Madoff family before the scandal broke; her falling-out with her father- and mother-in-law; and her experience during and after her husband’s suicide, which occurred two years after Bernie Madoff’s arrest. In the book, Mack says that her husband was not involved in his father’s schemes and that he was a “hero” for turning his father in to the authorities. Read more in the Christian Science Monitor [...]

The emotional blow changed Mark from the very first day. His athletic shoulders curled inward, hunching him like an old man, and his handsome face aged overnight. A fault line of anger and distrust crossed his forehead. The smile that made me fall in love with him disappeared altogether. “Was my life real?” he would often ask. Read more in the Huffington Post here. [...]

As he pitched himself into eternity with a noose fashioned from a dog leash, 46-year-old Mark Madoff was being pursued by lawyers who aggressively doubted his protestations of innocence. They were convinced he had enriched himself through his father’s multibillion-dollar Ponzi scheme, and the bankruptcy trustee delegated to return the stolen billions to Bernie Madoff’s victims had filed a lawsuit seeking $66,607,111 that Mark had allegedly “received improperly,” including money in his children’s names. Read more on TheDailyBeast here. [...]

Irving Picard, the trustee seeking money for victims of Bernard Madoff’s fraud, and his law firm were awarded another $45.3 million of fees by the judge overseeing the liquidation of the imprisoned Ponzi schemer’s investment advisory firm. Read Reuters report [...]

Andrew Madoff’s request to appeal a $198 million lawsuit by the liquidator of Bernard Madoff’s firm was “not warranted” and the case should go to trial, the trustee said. Trustee Irving Picard won a court ruling last month permitting him to pursue most claims in a 2009 lawsuit alleging that the Madoffs treated the now-defunct firm, Bernard L. Madoff Investment Securities LLC, as their “family piggy bank.” The con man’s son, Andrew, asked a district judge to allow an appeal, saying the suit would result in a “massive expansion of liability” for bank and corporate managers who might be blamed for wrongdoing they hadn’t detected. Read Bloomberg Businessweek report [...]