Judge Drops Madoff Trustee's Claims In 4 Clawback Suits

Law360, New York (April 30, 2012, 8:30 PM EDT) -- A New York federal judge on Monday nixed all of Bernard L. Madoff Investment Securities LLC bankruptcy trustee Irving Picard's claims except those for those based on fraudulent intent in four clawback suits, including a $2.8 million suit against investor James Greiff.

U.S. District Judge Jed S. Rakoff dismissed claims against Greiff, Gerald Blumenthal, Harold J. Hein, and Kara Fishbein Goldman and Steven Goldman, all investors in Bernard L. Madoff Investment Securities whose fictitious profits Picard sought to recover. Judge Rakoff said that a written opinion...
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