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Madoff Clawbacks

June 8, 2011 | Baruch College, CUNY Lecture Series

Seeking compensation for the thousands of victims of Bernard Madoff’s Ponzi scheme, court-appointed trustee Irving Picard, so far has recovered about $11.5 billion — through “clawback suits” — of about $17 billion in principal lost, according to Peter Henning, New York Times White Collar blogger. “No one is getting all their money back,” says Henning, a law professor at Wayne State University School of Law. “The idea is to see that the victims share their losses equally.” At an event at Baruch entitled, “The Madoff Clawbacks: Whose Money Is It?” Hennings was joined by Seth Lipner, professor of law at the Zicklin School of Business.
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