New York Attorney General Eric Schneiderman accused Bernie Madoff trustee Irving Picard of twiddling his thumbs while Schneiderman was busy recovering $410 million for victims of the convicted Ponzi schemer. “The Trustee sat back watching while the NYAG developed a case,” Schneiderman said in court papers. “But he waited too long. He should now have to live with the consequences of his strategy.” Schneiderman is fighting Picard’s efforts to block a $410 million settlement the AG brokered with fallen hedge-fund honcho Ezra Merkin, who acted as one of the biggest Madoff “feeder” funds. More in the New York Post here.
