Read The Trustee's Lawsuit Against The Madoff Sons Here
The court-appointed bankruptcy trustee tasked with recovering assets for victims of Bernard Madoff's massive Ponzi scheme has sought leave from a New York Bankruptcy court to file an amended complaint accusing Madoff's sons of profiting by more than $150 million from the "family piggy bank." Irving Picard, the court-appointed bankruptcy trustee overseeing the liquidation of Bernard L. Madoff Investment Securities ("BLMIS"), is seeking court approval to file his Third Amended Complaint against Andrew H. Madoff, the estate of Mark D. Madoff, and Stephanie S. Mack, Mark Madoff's widow.
The Complaint, which is reproduced below, contains new allegations that the Madoff brothers were aware of the massive fraud perpetrated by their father, including claims that the brothers backdated trades, orchestrated the creation of seven-figure investment accounts out of thin air to support real estate purchases, and even deleted sensitive emails on the eve of a 2005 audit by the Securities and Exchange Commission.
Download the lawsuit here.