Madoff Family Challenges Trustee Claims

Wednesday, Mar 17, 2010  |  Updated 7:30 AM EDT
View Comments (
)
|
Email
|
Print
Madoff Family Challenges Trustee Claims

AP

Peter Madoff was the former chief compliance officer of Bernard Madoff investment Securities LLC and brother of Bernard. He claims he didn't know about the massive fraud.

Bernard Madoff's brother and sons want complaints filed against them in bankruptcy court thrown out.

Trustee Irving Picard has claimed the family members who worked at Madoff's firm should have known about his epic fraud. He says they also profited from the scheme and should return the money to burned investors.

Lawyers for the brother, Peter Madoff, and sons Mark and Andrew argued in court papers that they were in the dark about a massive Ponzi scheme that spanned decades.

The papers were filed late Monday in federal bankruptcy court in Manhattan. The trustee declined comment on Tuesday.

Madoff is serving 150 years in prison.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
21st Century Solutions
The NBCUniversal Foundation is partnering... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out