Madoff Victims File Petition to Put Former Financier Into Bankruptcy

Victims of Bernard Madoff’s $65 billion Ponzi scheme filed a petition to put the disgraced financier in personal bankruptcy to ensure that all his assets are used to pay them, the victims’ lawyer said.

“It’s an important step to ensure that all Madoff assets are brought before the bankruptcy court to be used for victims of this massive fraud,” said Jonathan Landers, a lawyer with Milberg LLP, which represents more than 70 victims, in a phone interview.
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Federal prosecutors have identified more than $100 million in real estate, cash, bonds, art, autos, boats and other property owned by Madoff and his wife, Ruth. [via Bloomberg]

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