Madoff Trustee Wants $114M From Investment Funds

Law360, New York (May 16, 2011, 7:12 PM EDT) -- The trustee overseeing the liquidation of Bernard L. Madoff's investment advisory firm hit six investment professionals and their management companies and funds with an amended complaint Monday in New York demanding the recovery of $114 million in allegedly fraudulent transfers.

Irving H. Picard, the trustee for Bernard L. Madoff Investment Securities LLC, targeted defendants including Ivy Asset Management LLC, Beacon Associates LLC and Ivy Birchwood Associates LP anew in New York bankruptcy court, alleging they chose to look the other way during their 20-year relationship with...
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