Home -> Law Blog Directory -> Criminal Law Blogs -> SECLaw.com

Criminal Law

: SECLaw.com

More Madoff Civil and Criminal Suits to Come...

By Mark H. Astarita, Esq.

Madoff's guilty plea to 11 felony counts is just the beginning of what will be a long and complicated process to identify the full scope of the fraud, and to recover assets from Madoff, and others who profited from the fraud.One point that may or may not be significant is that the fraud was not 50 billion dollars, but is between 10 and 17 billion, which is what we suspected when the story first broke. Either way, with only one billion having been recovered, there is much more work for the Trustee and the SEC staff to do to identify, and recover those assets.With no plea agreement, we can expect the Trustee to attempt to attach the rest of Madoff's assets, and to go after the assets that are in his wife's name. According to press reports, Mrs...continue to full post

Full post as published by SECLaw.com on March 12, 2009 (boomark / email).