Trustee files new lawsuits for Madoff victims’ recovery

06/06/2012 // West Palm Beach, Florida, US // JusticeNews // Justice News Flash // (press release)

U.S. – A trustee seeking the recovery of sums victims lost in Bernard Madoff’s controversial ponzi scheme has filed several new lawsuits on their behalf. As reported by Reuters, the trustee, Irving Picard, filed the lawsuits Wednesday in the U.S. Bankruptcy Court in Manhattan, seeking several hundred million dollars.

As noted in the report, Picard has purportedly filed over 1,000 lawsuits for Madoff victims. Madoff was sentenced to 150 years in prison in 2009 for a financial fraud scheme that was uncovered in 2008.

Amanda Remus, a spokeswoman for Picard, is quoted by Reuters as stating in reference to the lawsuits being filed before the anniversary of a conditional settlement approval between Fairfield Sentry liquidators and the trustee, “Tomorrow is the earliest date that defendants could claim the one-year statute of limitations expires for subsequent transfer cases.”

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