Irving Picard, the trustee in charge of Bernie Madoff?s seized assists, is suing Madoff?s primary bank – JP Morgan. Picard alleges the bank ignored warning signs of the infamous ponzi scheme, and its eventual implosion. The bank responded to the suit, saying they have become a target because of their ?deep pockets.?The trustee is also looking to Madoff?s investors, many…
The trustee recovering money for Bernard Madoff's burned investors has reached a settlement with the estate of a Florida philanthropist.
Court-appointed trustee Irving Picard plans an announcement Friday in Manhattan about the estate of Jeffry Picower.
The amount of the settlement was not immediately made public.
Picower made billions of dollars off Madoff's pyramid scheme. He drowned after suffering a heart attack in the swimming pool of his Palm Beach, Fla., mansion on Oct. 25, 2009.
His will had earmarked most of his fortune for charity.
