Madoff Trustee Seeks Opportunity To Re-Sue Banks

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The trustee in the Bernard Madoff case, Irving Picard, wants another opportunity to sue defendants including Credit Suisse Group AG (ADR) (NYSE:CS), Royal Bank of Canada (NYSE:RY) (TSE:RY) and Credit Agricole SA (EPA:ACA) (OTCMKTS:CRARY). Citing two rulings handed down by the U.S. District Court in Manhattan, Picard is seeking another chance for himself and his team of lawyers to re-sue the banks. Legal landscape substantially altered Bernard Madoff, one of the most notorious financial criminals in living memory, orchestrated a Ponzi scheme in which investors lost over $17 billion. He was sentenced to 150 years in prison in June 2009. The…

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Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports