Fraudster Bernard Madoff's family are facing 40 new law suits as lawyers claim they pocketed $69m from his Ponzi scheme.
Irving Picard, the Trustee for the liquidation of Bernard L. Madoff Investment Securities (BLMIS), filed 40 lawsuits in a New York bankruptcy court on Friday, 22 of which were filed against Madoff's relatives and his wife, Ruth Alpern Madoff. Madoff's sister, nephew, his wife's sister, and in-laws will also face charges. A further 18 cases were filed against former employees of BLMIS, their relatives, and other related entities, according to Picard's law firm Baker & Hostetler. The lawsuits seek to recapture about $69m which the Trustee alleges was deposited by BLMIS customers, then...
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