Madoff Trustee Seeks $77M From Credit Agricole, Others

Law360, New York (May 29, 2012, 6:51 PM EDT) -- The trustee recovering for victims of Bernard L. Madoff's Ponzi scheme on Friday filed two clawback lawsuits against Credit Agricole SA, Northern Trust Corp. and Barfield Nominees Ltd. that could garner nearly $77 million for bilked investors.

Trustee Irving H. Picard alleges that between 2002 and 2008, Northern Trust received at least $70 million and Credit Agricole received about $6.7 million in transfers from Madoff feeder funds Fairfield Sentry Ltd. and Kingate Global Fund Ltd.

The companies were told that the transfers were returns on their...
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