BROWSE BY TOPIC
- Bad Brokers
- Compliance Concepts
- Investor Protection
- Investments - Unsuitable
- Investments - Strategies
- Investments - Private
- Features/Scandals
- Companies
- Technology/Internet
- Rules & Regulations
- Crimes
- Investments
- Bad Advisors
- Boiler Rooms
- Hirings/Transitions
- Terminations/Cost Cutting
- Regulators
- Wall Street News
- General News
- Donald Trump & Co.
- Lawsuits/Arbitrations
- Regulatory Sanctions
- Big Banks
- People
TRENDING TAGS
Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
ABOUT FINANCIALISH
We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.
Stay Informed with the latest fanancialish news.
SUBSCRIBE FOR
NEWSLETTERS & ALERTS
FOLLOW US
Barclays Sued by Madoff Trustee
Madoff trustee Irving Picard filed 6 new lawsuits on Thursday, including one against Barclays Plc for $67 million. All told, Mr. Picard seeks to recover $219mn from this group of lawsuits that were filed in the U.S. Bankruptcy Court in Manhattan by Picard. Each pertains to transfers made to so-called "feeder fund" Fairfield Sentry Ltd.
That fund was run by Fairfield Greenwich Group, the largest feeder of cash to Bernie Madoff's firm.
Similar, smaller lawsuits were filed against: (i) Sumitomo Mitsui Trust Holdings Inc, (ii) Cathay Life Insurance Co, (iii) Korea Exchange Bank, (iv) Banque Privee Espirito Santo SA, and (v) Banca Carige SpA.
In May, Picard reached a settlement with liquidators of Fairfield Sentry and other Fairfield funds, under which he was assigned the right to pursue most of the liquidators' claims.
The trustee has filed more than 1,050 lawsuits on behalf of Madoff victims, and is seeking more than $94 billion.
A Barclays spokesperson had no comment. The case is Picard v. Barclays Bank (Suisse) SA et al, U.S. Bankruptcy Court, Southern District of New York, No. 11-ap-02569. [Reuters, 9/2/11]
Related Stories: Archive
-
Legal Funding Firm Accused of Scamming 9/11 Heroes, NFL Retirees
February 8, 2017 -
Elizabeth Warren, Wall Street Pariah, Now Has Lost Her Left-Wing Following
January 19, 2017 -
What We Know and Don’t Know About the Trump-Russia Dossier
January 11, 2017