Madoff Trustee Is Dealt Fresh Legal Setback

Now watching

Next video starts in : 7 Play

Madoff Trustee Is Dealt Fresh Legal Setback

Madoff Trustee Is Dealt Fresh Legal Setback
Replay video
Up next

AirAsia Plane Carrying 162 Lost; 3rd Malaysia Airline Shock

Unlock your personal NFL Now stream by signing in to NFL.com

Madoff Trustee Is Dealt Fresh Legal Setback

by Wochit 0:47 mins

Madoff Trustee Is Dealt Fresh Legal Setback

by Wochit 0:47 mins

A Manhattan federal judge has limited the ability of the trustee seeking money for victims of Bernard Madoff's Ponzi scheme to recoup sums that may have been fraudulently transferred outside the United States. In a decision on Sunday, U.S. District Judge Jed Rakoff said the trustee, Irving Picard, could not invoke federal bankruptcy law to recover money transferred outside the United States between foreign entities, citing a presumption that the law does not apply extraterritorially. According to court records, the decision affects several dozen lawsuits brought by Picard, who is liquidating Bernard L. Madoff Investment Securities LLC.

Wochit

Must Watch

  1. 0:29

    Watch a Sneak Peek of Community Episode 4

  2. 24:40

    Community Episode 3: Basic Crisis Room Decorum

  3. 22:03

    Sin City Saints Episode 1: The Fool Monty

  4. 2:11

    A Profile of Germanwings Co-Pilot Andreas Lubitz

  5. 2:29

    'Southpaw' Trailer

  6. 1:37

    Sean Hayes and Husband Flawlessly Lip Sync to Iggy Azalea's "Trouble"

Community

  1. 27:26

    Community Episode 1: Ladders

  2. 27:26

    Community Episode 2: Lawnmower Maintenance and Postnatal Care

  3. 24:40

    Community Episode 3: Basic Crisis Room Decorum

  4. 0:29

    Watch a Sneak Peek of Community Episode 4

  5. 2:01

    Sin City Saints: Official Trailer