Madoff Trustee Picard Sues JPMorgan for $6.4 Billion
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The trustee liquidating Bernard Madoff’s former investment firm sued JPMorgan Chase & Co. for $6.4 billion over claims the bank aided and abetted the imprisoned con man’s fraud.
Irving H. Picard, the lawyer appointed as trustee by a New York bankruptcy court, said in a statement that he sued JPMorgan yesterday seeking $1 billion in fees and $5.4 billion in damages.