Madoff Trustee Seeks $20.6M From Delta Bank

Law360, New York (August 25, 2011, 7:49 PM EDT) -- Irving H. Picard, the trustee for Bernie Madoff's firm, hit Delta National Bank and Trust Co. with a lawsuit in New York bankruptcy court Thursday to recover at least $20.6 million the bank allegedly received from a feeder fund that invested with the Ponzi schemer.

One of the Madoff firm's largest feeder funds, Fairfield Sentry Ltd., had received about $3 billion of "customer property" from the firm in a six-year period before his 2008 arrest, according to the suit. Picard said more than $20.6 million of...
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