SEC Wants Default Judgment Against Madoff Brother

Law360, New York (June 10, 2013, 5:50 PM EDT) -- The U.S. Securities Exchange Commission asked a New York federal judge on Monday to enter default judgment against Bernard Madoff's brother Peter Madoff to bar him from committing future fraud, the latest development in the fallout from the decades-long Ponzi scheme for which he is serving a 10-year prison sentence.

The agency is seeking default judgment against Peter Madoff, who has not responded to the SEC's June 2012 complaint, in a sister suit to criminal proceedings that concluded in December with the decadelong prison sentence and...
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