The civil litigation associated with Bernard Madoff's Ponzi scheme may go on for years -- both investors suing Madoff and investors suing their financial advisors who invested their monies in Madoff's investment funds without doing any due diligence at all. And on top of this, investors want to know what about the other Madoff relatives? The wife? The sons? The brother?
Today the NYT reports that one of the state law lawsuits brought against an advisor investing client funds in Madoff Investment Securities is against Peter Madoff, the brother of Bernie. Brought in New York state by a Brooklyn Law School student, this suit alleges that Peter, the trustee of a trust settled for the plaintiff by his grandfather, invested the entire corpus of the trust in Madoff Investment Securities. Well, that's gone now -- almost $500,000. Talk about everything going bad -- law students everywhere are bemoaning the market, and one law student was able to say, "Well, at least I have my trust fund to fall back on. . . .hey, what's going on?"
So, in connection with this lawsuit, a NY state judge froze the assets of Peter Madoff, which seemed to surprise federal authorities whose investigation is continuing.
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8345157d569e201156f5e4bb4970b
Links to weblogs that reference The Multi-Faceted Madoff Saga -- Broker Litigation Intersects with Brother Peter Madoff:
1. Posted by business from home on September 6, 2011 @ 0:44 | Permalink
A business network is a type of social network whose reason for existing is business activity. There are several prominent business networking organizations that create models of networking activity that, when followed, allow the business person to build new business relationships and generate business opportunities at the same time. As social media and social networking Web sites continue to grow and expand, businesses and companies are beginning to understand the effectiveness, efficiency and power of reaching key targeted consumers via advertising and marketing on social media and networking platforms
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |||
| 5 | 6 | 7 | 8 | 9 | 10 | 11 |
| 12 | 13 | 14 | 15 | 16 | 17 | 18 |
| 19 | 20 | 21 | 22 | 23 | 24 | 25 |
| 26 | 27 | 28 | 29 |
