Primeo Fund, sued along with HSBC Holdings Plc (HSBA) by the trustee liquidating Bernard Madoff’s firm, will ask a district judge to remove the case from bankruptcy court. Read more on Bloomberg here.
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WASHINGTON, DC – Rep. Scott Garrett (R-NJ), Chairman of the House Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, today called on the Government Accountability Office (GAO) to conduct a comprehensive evaluation of the actions of the Securities Investor Protection Corporation (SIPC), the Trustee in the liquidation of Bernard L. Madoff Investment Securities, LLC (BLMIS), and the Securities and Exchange Commission’s (SEC) involvement and oversight of this major liquidation. (click here to continue reading…) A group of U.S. lawmakers critical of the way money is being recovered from Bernard L. The chairman of a House capital markets subcommittee called for a comprehensive probe into whether the liquidation of Bernard Madoff’s investment firm treats Ponzi scheme victims fairly and costs too much. Read Reuters report here. JPMorgan Chase & Co. sought to dismiss a $6.4 billion lawsuit by the trustee liquidating Bernard Madoff’s firm, saying he doesn’t have the right to sue the bank on behalf of the con man’s investors. Read Bloomberg report here. Bernard Madoff’s former payroll manager is set to plead guilty next week to charges he helped pull off his boss’s record fraud, court papers revealed today. Read NY Post article here. They are battling in bankruptcy court, and they’ve taken their story to the magazines. But the Mets’ owners remain embroiled in a massive lawsuit filed by the trustee in the Bernie Madoff liquidation case, and even potential investor David Einhorn is taking steps to protect himself against possible future losses in the hotly contested litigation. Read Daily News article here. The Town of Fairfield may have lost a skirmish, but it has hardly lost the war in the legal battle to recover money it lost in the Bernard Madoff Ponzi scheme. Read more at MinuteMan New Center here. A US judge said he will take over at least a portion of a USD 19.6 billion lawsuit accusing Italian bank UniCredit of helping convicted fraudster Bernard Madoff orchestrate his Ponzi scheme. Read Reuters report here. The Securities and Exchange Commission’s internal watchdog said it will issue by October the findings of a probe into whether the agency’s former top lawyer violated ethics rules by working on matters related to Bernard L. Madoff’s Ponzi scheme even though he inherited money linked to the fraud. Read more on Nasdaq.com here. |
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