Ruth Madoff to Bare All Expenditures Over $100

Judge gives partial victory to both sides in lawsuit

(NEWSER) - The New York Mets' owners may have to return some of $300 million in profits they made dealing with Bernie Madoff, but their $700 million principal is probably safe. A judge has decided that for trustee Irving Picard to pursue the Mets owners' principal investment, he must prove that they were "willfully blind" to the fraudulent nature of Madoff's enterprise, the Wall Street Journal reports. The ruling could make it harder for Picard to win back large sums from others. More»

Trustee says bank enabled fraud by ignoring warning signs

(NEWSER) - Bernie Madoff's Ponzi scheme survived for so long because HSBC ignored "red flags" and kept funneling investors' money to the fraudster, says the trustee trying to reclaim money for Madoff's victims. Irving Picard is suing the bank and a group of feeder funds for at least $9 billion, the New York Times reports. More»

Irving Picard sues, again, for money

(NEWSER) - The court-appointed trustee seeking to recover billions of dollars lost by Bernie Madoff is suing for $30 million that he says the Madoff family invested in oil, gas, and tech, reports the AP . The suit filed by trustee Irving Picard says the investments were used as vehicles to funnel money out of Madoff's business, and comes as a follow-up to the lawsuit he filed in November seeking nearly $200 million from Madoff family members who he said lived lavishly while using the family business like a "piggy bank." More»

(NEWSER) - Investigators see yesterday's guilty plea of Bernard Madoff's right-hand man as a major breakthrough in their efforts to untangle the elaborate Ponzi scheme, BusinessWeek reports. Frank DiPascali, chief financial officer at Madoff's firm, has promised to cooperate with prosecutors and is expected to name other people involved in the scam and to help trace assets Madoff may have stashed around the world. More»

Bankruptcy trustee says fraudster's wife received more than she'll admit to

(NEWSER) - The trustee in the Bernie Madoff case sued the swindler's wife today to demand the return of $44 million to bilked investors, Newsday reports. The complaint doesn't allege criminal activity by Ruth Madoff but says she directly received funds from her husband’s multi-billion-dollar Ponzi scheme. Ruth Madoff gave up all but $2.5 million of her assets in a forfeiture deal last month, but she's not protected from lawsuits. More»