Madoff trustee sues UBS bank
8:30 AM Thursday Nov 25, 2010 Share Email Print NEW YORK – The trustee labouring to recover money for victims of Bernard Madoff announced a lawsuit yesterday against UBS, alleging the Swiss bank lined up clients for the disgraced financier and “looked the other way” as he fleeced them. UBS called the allegation “completely unfounded.” The suit filed in US Bankruptcy Court in Manhattan alleges 23 counts of financial fraud and misconduct against the bank and other entities and individuals. It seeks to recover $US2 billion for Madoff’s victims. In a statement, trustee Irving Picard accused UBS – an administrator of a feeder fund for Madoff’s operation – of obstructing his efforts to unravel…
Continued here:
Madoff trustee sues UBS bank
Posted by
on November 24, 2010. Filed under
News.
You can follow any responses to this entry through the
RSS 2.0.
You can leave a response or trackback to this entry