Madoff Trustee Seeks $105M In Latest Clawbacks

Law360, New York (February 10, 2012, 12:28 PM EST) -- The bankruptcy court trustee tasked with recovering money from Bernard L. Madoff's brokerage sued two foreign banks and investment giant Koch Industries Inc. on Thursday, seeking more than $105 million in allegedly fraudulent transfers from the giant Ponzi scheme.

SNS Bank NV, Koch Industries Inc. and Banco General SA were targeted by Irving H. Picard in New York bankruptcy court.

Picard is seeking the return of $74.5 million from the Utrecht, Netherlands-based SNS Bank, which the suit says received payments from Fairfield Sentry, the infamous Madoff...
To view the full article, register now.