More Madoff Relatives Hit With Suits By Trustee

Law360, New York (November 29, 2010, 2:01 PM EST) -- Numerous relatives of Bernard Madoff have been targeted by the trustee liquidating Madoff's investment firm in a flurry of suits claiming they profited from the Ponzi scheme.

Baker and Hostetler LLP partner Irving Picard, the court-appointed trustee, filed a total of 22 complaints against Madoff relatives and 18 more former Madoff employees on Friday in the U.S. Bankruptcy Court for the Southern District of New York.

Altogether, the suits seek to recover $69 million, including $30 million diverted to the accounts of Madoff relatives and $39...
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