Madoff Trustee Amends $2B Complaint Against UBS

Law360, New York (August 17, 2011, 8:21 PM ET) -- The trustee for Bernard L. Madoff's investment firm amended his $2 billion lawsuit Wednesday in New York against UBS AG, alleging the Swiss bank misled securities regulators in the U.S. and Luxembourg about Madoff's role in numerous international feeder funds.

"Madoff did not act alone in perpetrating the largest financial fraud in history," but was aided by UBS and its affiliated entities,  Bernard L. Madoff Investment Securities LLC trustee Irving H. Picard said in an amended complaint.

The amended complaint claims UBS intentionally misled Luxembourg's securities...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required