Madoff Trustee Sues Madoff Family Companies

In a trio of lawsuits filed late Thursday, the trustee appointed to recover the money stolen by Ponzi schemer Bernie Madoff has sued three businesses controlled by Madoff's sons and other family members where he says more than $30 million may be stashed. Trustee Irving Picard said in papers filed in federal bankruptcy court in Manhattan that Madoff family members had used almost $200 million in investor cash to pay for "lavish lifestyles." "Foremost among the recipients of Madoff's gifts of...Full Story
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