Ex-Milberg Partner Claims Ignorance Of Madoff's Scheme

Law360, New York (September 7, 2011, 9:57 PM EDT) -- Melvyn Weiss, the disgraced Milberg Weiss LLP partner who allegedly made $12.5 million in fictitious profits by investing in Bernard L. Madoff's Ponzi scheme, said Wednesday in New York bankruptcy court that he is an “innocent victim” of Madoff.

Weiss, who became infamous in the legal world after pleading guilty to bribery charges, asked U.S. Bankruptcy Judge Burton L. Lifland to let a district court with more power hear the case that Madoff's trustee brought against him. Trustee Irving Picard claims Weiss and his family withdrew...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.