John Malkovich in Legal Drama Over Madoff Money

Wants full $2.2 million he lost to convicted Ponzi schemer

Friday, Apr 2, 2010  |  Updated 8:23 AM EDT
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Bernard Madoff & His Victims

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Actor John Malkovich's lawyers have complained to a judge in New York overseeing the bankruptcy of jailed financier Bernie Madoff that he'll only get $670,000 of his $2.2 million claim.

The lawyers filed papers Thursday in U.S. Bankruptcy Court saying the actor should be entitled to $2.2 million. They say the trustee handling the estate determined that the actor was entitled to the smaller number and that's wrong.

The 56-year-old star of such films as "Being John Malkovich'' and "Burn After Reading'' is among thousands of investors who lost tens of billions of dollars in the multi-decade fraud that Madoff revealed in December 2008 when he ran out of money. Malkovich, like many of those investors, claims he's due the amount listed on his last account statement before the bust.

Irving Picard, the trustee liquidating Madoff's firm, has said those account statements aren't real, however. A judge agreed with him that bilked investors should only get back the difference between what they originally invested and what they took out.

That logic doesn't sit well with Malkovich's attorneys.

"A customer generally expects to receive what he believes is in his account at the time the stockbroker ceases business," attorneys for the actor's trust told the Daily News.

Madoff is serving a 150-year jail term after pleading guilty to fraud charges.
 

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