Madoff Victim Challenges Trustee's Claim Valuation

Law360, New York (June 12, 2009, 12:00 AM EDT) -- The trustee liquidating the infamous Bernard L. Madoff’s investment firm and responsible for parsing the value of the defrauded accounts has come under fire from an investor alleging the trustee improperly denied him the full $20.8 million he had invested at the firm.

On Friday, Martin Rappaport lodged an objection in the U.S. Bankruptcy Court for the Southern District of New York, contending that trustee Irving Picard’s determination vastly undervalues the amount of money in his Madoff account and contradicts Securities Investor Corp.’s own policy of...
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