Madoff Trustee Seeks $76M From 2 Swiss Banks

Law360, New York (December 9, 2011, 3:48 PM EST) -- The trustee liquidating the estate of Bernard L. Madoff’s investment firm on Friday filed lawsuits seeking a total of $76.3 million from two Swiss banks, continuing his quest to recover money he says was fraudulently transferred from the company.

Bernard L. Madoff Investment Securities LLC liquidation trustee Irving Picard is seeking nearly $39 million from Falcon Private Bank Ltd. and about $37.3 million from Bank Julius Baer & Co. Ltd that he says was illegally transferred from BLMIS through Madoff feeder fund Fairfield Sentry Ltd....
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