Some claims against Madoff feeder funds, sons’ wives are curbed

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. Amanda Remus, a spokeswoman for Picard, said the trustee is reviewing the decision. Lawyers for Deborah Madoff, who married Andrew Madoff in 1992, and Stephanie Mack, who married Mark Madoff in 2004, were not immediately available for comment.


Leave a Reply

Your email address will not be published.