The Madoff clan was hit with the lawsuit they feared today.
As Madoff trustee Irving Picard recently threatened in an interview on 60 Minutes, he’ll seek $198 million from the disgraced family.
AP: A trustee trying to recover Bernard Madoff’s assets to reimburse investors has sued his brother, sons and a niece to recover nearly $200 million.
The lawsuit was filed Friday in U.S. Bankruptcy Court in Manhattan.
In the court papers, Trustee Irving Picard says the money was received by the family members as a result of preferential payments, fraudulent transfers and breaches of fiduciary duties.
The lawsuit said the family members were completely derelict in their duties and responsibilities.
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