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Madoff Victims Trustee Eyes Brother's Bucks

New focus on Peter as trustee seeks to compensate swindle victims

By Mary Papenfuss,  Newser Staff

Posted Apr 8, 2009 4:43 AM CDT

(Newser) – A federal court official may seek to claw back any funds transferred by Bernard Madoff's swindle company to his brother, reports the New York Post. The new focus on Madoff's sibling, an officer in his firm, was revealed in a letter to an attorney representing a New York law student. The student lost his $500,000 inheritance to investments in Madoff's ersatz hedge fund made by Peter Madoff. The court trustee is seeking Peter's money to compensate Madoff victims.

Long Island plaintiff Andrew Ross Samuels attends a hearing in a Long Island court last week as part of his suit against Peter Madoff.
Long Island plaintiff Andrew Ross Samuels attends a hearing in a Long Island court last week as part of his suit against Peter Madoff.   (AP Photo/ Louis Lanzano, POOL)
Bernard Madoff's brother, Peter, consults with his lawyer in a Long Island court last week. The former chief compliance officer of Madoff's investment firm is being sued by a scam victim.
Bernard Madoff's brother, Peter, consults with his lawyer in a Long Island court last week. The former chief compliance officer of Madoff's investment firm is being sued by a scam victim.   (AP Photo/ Louis Lanzano, POOL)
Bernard Madoff's brother, Peter, arrives last week at a Long Island court where he is being sued for losing a college student's $500,000 inheritance in Madoff's swindle.
Bernard Madoff's brother, Peter, arrives last week at a Long Island court where he is being sued for losing a college student's $500,000 inheritance in Madoff's swindle.   (AP Photo/ Louis Lanzano)
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theft • scam • Ponzi scheme • Bernard Madoff • Ruth Madoff • Peter Madoff

 
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