Irving Picard

UniCredit files a suit against Irving Picard. Republicans offer protection

February 18, 2011 - 3:58pm | Fraud | News

One of the defendants in Madoff case Italian bank UniCredit SpA has filed a lawsuit against Irving Picard, a trustee liquidating Bernard Madoff's assets. According to the papers Irving Picard has exceeded its authority vested by the U.S. Congress.

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New lawsuits to recover funds from investors suffered from Ponzi scheme, Picard

July 26, 2010 - 7:50am | Law aspects | News

As it has become known, the court-appointed trustee overseeing the liquidation of Bernard Madoff's investment company, Irving Picard, is going to file new lawsuits to recover funds from investors who suffered from the Ponzi scheme.

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Madoff trustee has started gathering $3.6 billion. New facts revealed

July 22, 2010 - 8:51am | Fraud | News

It was reported that Irving Picard, the court-appointed trustee started to gather money from 43 new defendants to pay the victims of Bernard Madoff's Ponzi scheme. In total they demand $3.6 billion from entities tied to Fairfield Greenwich Group which is considered to enable Bernard Madoff to run the fraud for at least 20 years.

Among the most significant defendants are Walter Noel, Jeffrey Tucker and Andres Piedrahita, the Fairfield Greenwich Group co-founders.

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Negotiations with Madoff’s accomplices continue, still no money for investors

July 22, 2009 - 2:46am | Fraud | News

According to court document, the trustee in the Madoff case is in settlement negotiations with the Fairfield funds and the Kingate funds, which fed an estimated $3.8 billion into Bernard Madoff's epic swindle. The trustee sued Hedge funds in separate litigation as part of his efforts to recover money for investors bilked in the Wall Street's biggest investment fraud amounted to $65 billion over 20 years, according to U.S.

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Madoff was sentenced but the justice is still not there

June 30, 2009 - 9:06am | Fraud | News

After hailing Bernard Madoff's 150-year prison sentence, some of his former investment clients intensified criticism of what they termed an equally tough adversary — the government systems charged with stopping financial scam artists and reimbursing its victims.

About 20 ex-clients who together lost millions to Madoff said they have been victimized by inadequate oversight before the fraud collapsed in December and questionable decisions and slowness in the ensuing repayment process.

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