The trustee liquidating Bernard Madoff’s business filed a lawsuit on Thursday seeking to “claw back” $150m paid out to one of his investors, marking the first legal action against those who received money before the former broker was arrested.
The lawsuit claimed that $150m was transferred in October from Mr Madoff’s firm to Banque Jacob Safra (Gibraltar) Ltd, for the benefit of Vizcaya Partners, a Madoff client based in the British Virgin Islands. Irving Picard, the court-appointed trustee, wants the money returned.
