THE trustee seeking money for Bernard Madoff's victims on Wednesday filed many new lawsuits to recover several hundred millions of dollars derived from investments by "feeder" funds in the imprisoned swindler's former firm.
Irving Picard, the trustee, filed complaints seeking a respective US$354.9 million and US$179.4 million from Swiss private banks EFG Bank SA and Lombard Odier Darier Hentsch & Cie.
Among the other complaints is a US$122.2 million case against defendants including ABN Amro Fund Services (Isle of Man) Nominees Ltd, and a US$108.1 million case against defendants including Belgian private lender Banque Degroof SA.
These defendants did not immediately respond to respective requests for comment.
Picard has filed more than 1,000 lawsuits on behalf of former Madoff customers, has reached agreements to recover US$9.13 billion to repay them. Much of that sum is tied up in litigation. The trustee has distributed about US$332.6 million to customers since December 2008. Reuters
Friday, June 8, 2012
Feel free to comment on this article using your Facebook account. By submitting your comment, you agree to the Terms and Conditions for the use of this comments feature, as stated here.