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Browse: Home / 2013 / March / 27 / Lawyers battle over Madoff-related settlement

Lawyers battle over Madoff-related settlement

By Securities Docket on March 27, 2013, 8:31 am

A battle between New York Attorney General Eric Schneiderman and Irving Picard, the trustee for victims of Bernard Madoff’s Ponzi scheme, is coming to a head.

On Monday, lawyers for the two sides traded barbs in court over a $410 million settlement between Schneiderman and Ezra Merkin, a money manager accused of “recklessly” feeding $2.4 billion of client money to Madoff. Picard is trying to block the settlement, claiming Madoff customers have first crack at Merkin’s assets.

via Lawyers battle over Madoff-related settlement — Reuters

Posted in Criminal, Top | Tagged Madoff, Settlements

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