UPDATE: Top Madoff Lawyer Steps Down

richard zabel

UPDATE: We learn via WSJ’s Law Blog that Zabel’s father is William Zabel, of Schulte, Roth & Zabel.

Zabel senior represents billionaire investor Jeffry Picower, who is being sued by the Madoff trustee for $7.2 billion, claiming he was Bernie’s “biggest benefactor.”

Step down, son!

The U.S. Attorney just appointed to lead the investigation of Bernie Madoff is already stepping down because his father represents one of the prosecution’s targets.

ABC’s investigative correspondent Brian Ross reports:

Just days after being appointed, the new chief of the criminal division in the U.S. Attorney’s office in Manhattan, Richard Zabel, has taken himself off the biggest case his office is handling, the investigation of the Bernard Madoff Ponzi scheme, because his father represents one of the potential targets.

“He has recused himself from any involvement in the Madoff case,” a spokesperson for the U.S. Attorney’s office, Rebekah Carmichael, told ABCNews.com Friday. Zabel’s appointment was announced Tuesday. The spokeswoman declined to provide any details about who would oversee and supervise the Madoff investigation.

Read the whole thing here.

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