Madoff Trustee Seeks $975M From Kingate Founders

Law360, New York (June 7, 2011, 6:39 PM EDT) -- A New York bankruptcy judge on Tuesday allowed the trustee overseeing the liquidation of Bernard L. Madoff's investment company to file a third amended complaint seeking $975 million from Kingate Global Fund Ltd., this time adding the fund's founders as named defendants.

In the complaint, Madoff trustee Irving H. Picard said that Federico Ceretti and Carlo Grosso, two Italian nationals working in England, first met Madoff in the early 1990s and soon after set up an investment fund that was fully invested in the noted fraudster's...
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