Madoff Trustee Trims Maxam Fraudulent Transfer Suit

Law360, New York (August 31, 2011, 5:02 PM EDT) -- The trustee leading the bankruptcy recovery efforts for victims of Bernard Madoff's $65 billion Ponzi scheme on Tuesday released some claims in his $100 million suit accusing feeder fund Maxam Capital Management LLC of making off with money it didn't deserve.

Irving H. Picard dropped common law claims for unjust enrichment and a constructive trust on behalf of the scheme's victims from the suit over preferential and fraudulent transfers Maxam, founder Sandra Manzke and others allegedly received before the scheme at Bernard L. Madoff Investment Securities...
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