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Madoff victims will get another $695 million from US fund
Thousands of victims of Bernard Madoff’s Ponzi scheme are due to get checks totaling $695 million from a U.S. Justice Department fund created through settlements with some of the con man’s oldest customers and his bank, JPMorgan Chase & Co. The payout, to 27,000 victims worldwide, is the third distribution from the $4 billion fund, […]
Madoff-related fraud to cost JPMorgan $2.5B
NEW YORK — For more than 15 years, there were signs something was amiss with what federal prosecutors in Manhattan call the “703 account” at JPMorgan Chase & Co. Money was being transferred back and forth for no reason. The account holder was recording double-digit returns on investments that were too good to be true. […]
Madoff victims can’t sue big banks, court rules
NEW YORK — A federal appeals court has blocked a trustee from recovering money for victims of Bernard Madoff’s mammoth fraud from major financial institutions. The 2nd U.S. Circuit Court of Appeals in New York ruled Thursday. It says Trustee Irving Picard lacked standing to sue on behalf of investors. Two lower-court judges had rejected […]
$210M from Mellon Co. to end Madoff lawsuits
ALBANY — Authorities have reached a $210 million settlement with BNY Mellon subsidiary Ivy Asset Management for advising clients to invest with Wall Street swindler Bernard Madoff, whose multibillion-dollar fraud landed him in federal prison, New York Attorney General Eric Schneiderman said Tuesday. The settlement of suits filed by the attorney general, U.S. Labor Department […]
AG: Madoff victim payouts within 3 years
ALBANY — Investors in four funds that lost more than $1.2 billion in Wall Street swindler Bernard Madoff’s Ponzi scheme will receive $410 million in payouts over the next three years, New York’s attorney general said Monday. A settlement with hedge fund manager J. Ezra Merkin was approved Friday in state Supreme Court in Manhattan. […]
Madoff to New York magazine: Government a Ponzi scheme
NEW YORK CITY — Wall Street swindler Bernard Madoff said in a magazine interview published Sunday that new regulatory reform enacted after the recent national financial crisis is laughable and that the federal government is a Ponzi scheme.
Top SEC lawyer named in Madoff suit
NEW YORK CITY — The top lawyer at the Securities and Exchange Commission has been named as a defendant in a lawsuit by the trustee who's trying to recover money for victims of Bernard Madoff's Ponzi scheme.
JP Morgan denies liability in Madoff fraud
NEW YORK CITY — JPMorgan Chase, the bank where Bernard Madoff kept his clients’ money, said in a court filing Tuesday that it had no legal obligation to figure out that the Ponzi king’s investment scheme was a fraud.
Madoff lawsuit: Mets owners owe victims $300M
NEW YORK CITY — The owners of the Mets turned a blind eye to Bernard Madoff’s massive fraud, reaping $300 million in false profits and using a large chunk to run the team, according to a lawsuit unsealed Friday.
Judge OKs $7.2B deal against Madoff beneficiary
NEW YORK CITY — A historic $7.2 billion deal was approved Thursday to settle a lawsuit brought against the estate of one of the oldest and wealthiest clients of disgraced financier Bernard Madoff.
Austrian bank strikes back at Madoff trustee
NEW YORK CITY — An Austrian bank accuses the trustee recovering money for victims of Bernard Madoff’s fraud of going after the bank and its principal shareholder as part of an “international witch-hunt.”
Madoff son’s suicide followed battle with trustee
NEW YORK CITY — For two years, the two sons of jailed financier Bernard Madoff portrayed themselves as honest whistleblowers of their father's historic fraud. A court-appointed trustee depicted them as bungling money managers who did nothing to protect investors.
Case Digests
- Fourth Department – Negligent performance: Rosenthal v. Syracuse University, et al.
- Second Circuit – Visual Artists Rights Act: Kerson v. Vermont Law School Inc.
- NYS Advisory Committee on Judicial Ethics – Former foreclosure referee: Opinion 22-157
- NYS Advisory Committee on Judicial Ethics – College honorarium: Opinion 22-156
- Second Circuit – Reasonable accommodation: Tafolla v. Heilig
- Fourth Department – Labor Law: Primisch v. Peroxychem LLC
- NYS Advisory Committee on Judicial Ethics – Judicial candidacy: Opinion 22-155
- Fourth Department – Defamation: Lavine v. Glavin
- NYS Advisory Committee on Judicial Ethics – Law clerk: Opinion 22-154
- NYS Advisory Committee on Judicial Ethics – Review of another judge’s actions: Opinion 22-153
- NYS Advisory Committee on Judicial Ethics – Charitable contributions: Opinion 22-150
- Second Circuit – Class action settlement: Moses v. The New York Times Company
Law News
- Appeals court upholds conviction
- Federal lawsuit reinstated against jail officer over strip search, delayed release
- Hyzon to pay $25M penalty to settle alleged fraud charges by SEC
- NY appeals court reinstates lawsuit over contract to remove snow
- Fourth Department affirms $400K judgment in contract dispute
- Fourth Department affirms decision in NY property dispute
- Greenlight Networks selects Buffalo-based attorney as general counsel
- Barclay Damon hires attorney Matt Smith
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