Claims they took excess profits from Ponzi scheme…"Clawback" suit is against 6 of approximately 30 Madoff victims reside in the Aspen-Snowmass area.
ASPEN REAL ESTATE — Six Aspen-area victims of jailed stock broker Bernie Madoff face lawsuits in the U.S. Bankruptcy Court in Manhattan for allegedly pocketing “other people’s money” produced by the Ponzi scheme, according to court documents. The defendants are among hundreds of Madoff victims whom bankruptcy trustee Irving Picard has sued since early December. As the court-appointed trustee, Picard is charged with distributing assets from Madoff’s estate to the victims.In a bid to recoup the lost funds, Picard has been suing victims who allegedly withdrew more funds from the Madoff account — Bernard L. Madoff Investment Securities LLC — than they invested. The suits allege the victims took money that theoretically was not theirs.
By Rick Carroll, Dec. 28, 10 Aspen Times