Trustee Seeks $30M From Madoff Family Ventures

Law360, New York (July 30, 2010, 11:55 AM EDT) -- The trustee charged with salvaging cash for victims of the Madoff Ponzi scheme has descended upon the swindler’s family companies, filing three suits to recover tens of millions of dollars used to bankroll various Madoff businesses, including technology and energy ventures.

Trustee Irving J. Picard filed a trio of adversary suits Thursday in the U.S. Bankruptcy Court for the Southern District of New York, claiming that Madoff-family controlled entities — including energy companies, a hedge fund, a biotechnology company and intellectual property developer Primex Holdings LLC...
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