Standard Chartered Hit With $330M Madoff Clawback Suit

Law360, New York (April 26, 2012, 10:12 PM EDT) -- The liquidating trustee for Bernard L. Madoff Investment Securities LLC on Thursday sued Standard Chartered Financial Services SA to recover the nearly $330 million in BLMIS customer assets it allegedly received through two Madoff feeder funds.

In a complaint filed in New York bankruptcy court, trustee Irving Picard claimed that Standard Chartered and its units had received the money from Fairfield Sentry Limited and Kingate Global Fund Ltd, two funds that had maintained more than 95 percent of their assets in BLMIS customer accounts, according to...
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