Madoff trustee sues SEC lawyer over $1.5m profit - papers

David Becker, general counsel for the SEC, is being sued by court-appointed trustee Irving Picard, who is seeking to recover assets from the estate of Becker's mother, who died in 2004, the Guardian reports. Picard alleges she made $1.5m investing with Madoff, who is serving a 150-year jail sentence after being convicted of running a $65bn Ponzi scheme in 2009. The lawsuit does not allege Becker or his brothers had any knowledge of the fraud, although they were co-executors on their mother's estate. Read more here Federal Reserve member calls for Wall Street banks break up A m...