Madoff Trustee Seeks $70M From Ex-Employees

Law360, New York (November 12, 2010, 7:04 PM EST) -- The trustee overseeing the bankruptcy of Bernard Madoff's investment firm has reportedly launched suits accusing five former Madoff employees of improperly collecting $70 million.

Irving Picard, the trustee in the bankruptcy case of Bernard L. Madoff Investment Securities LLC, on Friday lodged separate suits in the U.S. Bankruptcy Court for the Southern District of New York against former operations head Daniel Bonventre, former controller Enrica Cotellessa-Pitz, and three former employees: Annette Bongiorno, Jo Ann Crupi and David Kugel, according to a Reuters news report.

The trustee,...
To view the full article, register now.