Judge Dismisses Some Madoff Trustee Claims Against Investors

U.S. District Judge Jed Rakoff, who is reviewing hundreds of lawsuits filed by the liquidator of Bernard Madoff’s firm, said he dismissed some claims against investors including James Greiff. In his ruling, Rakoff tossed claims by Madoff trustee Irving Picard for taking back eight years of profit received from the con man’s brokerage, leaving him to claw back two years of profit. He made a similar decision this year when he cut Picard’s $1 billion lawsuit against the New York Mets owners to $386 million. Picard and the Major League Baseball team’s owners later settled.
Read Bloomberg report here.