NEW YORK (AP) — The trustee recovering assets for investors in jailed financier Bernard Madoff’s fraudulent business says he has filed a lawsuit in London. He hopes to recover at least $80 million from the international arm of Madoff’s business.
Trustee Irving Picard said Wednesday that the lawsuit was filed in United Kingdom’s High Court of Justice Commercial Court.
Picard said in a release that Madoff Securities International Limited in London was part of “Madoff’s global shell game.”
He said funds stolen in Madoff’s Ponzi scheme went around the world but ultimately ended up in the pockets of Madoff, his family and his confederates.
The 72-year-old Madoff is serving a 150-year prison sentence after pleading guilty to fraud charges.
