The trustee seeking money for Bernard Madoff’s victims may be unable to pursue some claims against investment firms that fed client funds into the swindler’s Ponzi scheme, a Manhattan federal judge said. In a decision released on Monday, U.S. District Judge Jed Rakoff also said the trustee Irving Picard could not pursue “unjust enrichment” claims against spouses of Madoff’s sons Andrew and Mark, saying the women did not qualify as “insiders” who could be held liable for fraud. More on Reuters here.
