Madoff Trustee Says Charity Investor Was No Victim

Law360, New York (October 1, 2009, 5:50 PM EDT) -- The trustee liquidating Bernard L. Madoff's investment firm has accused the founder of one of the country's largest charitable organizations of casting himself as an “innocent victim” of the Ponzi scheme, rather than owning up to the more than $7 billion the trustee claims the investor owes as a result of the debacle.

Irving Picard said in a filing Wednesday in the U.S. Bankruptcy Court for the Southern District of New York that businessman Jeffry Picower took $7.2 billion of other investors’ money from Madoff's hedge...
To view the full article, register now.