Monday, January 24, 2011

The apparent suicide came as Irving Picard, the court-appointed trustee seeking to recover Bernard Madoff's assets on behalf of burned investors, filed a wave of lawsuits against banks and investment firms ahead of the midnight Saturday deadline for suing entities and individuals suspected of having any role in the scam. Picard earlier filed lawsuits against the Madoff sons and other family members, seeking the return of millions of dollars in alleged improper gains. Picard has accused them of negligence and breach of their financial responsibilities.

Curious onlookers and reporters gathered outside Mark Madoff's building as news of the apparent suicide spread.

Bernard Madoff, 72, is serving a 150-year term in a North Carolina federal prison after he confessed and pleaded guilty last year. He insisted he acted alone. However, federal authorities have since filed criminal charges against several of his financial lieutenants and other longtime employees.

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