2nd Circ.'s Madoff Foreign Clawback Ruling Boosts Trustees

By Alex Wolf (February 27, 2019, 9:50 PM EST) -- With its ruling this week that the trustee liquidating Bernie Madoff's investment firm can claw back billions in Ponzi scheme proceeds transferred to entities overseas, the Second Circuit has provided broad assurance that domestic frauds can be dutifully unwound, according to experts.

In a unanimous panel opinion, the Second Circuit found that all of the funds transferred out of Bernard L. Madoff Investment Securities LLC are subject to U.S. jurisdiction even if they wound up in the pockets of investors abroad. The panel said the transactions in the clawback cases brought by BLMIS trustee Irving H. Picard are domestic and do...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!