Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Trustee in Madoff Case Files $3.14 Million Sealed Suit

The trustee liquidating Bernard Madoff’s investment firm filed a $3.14 million lawsuit against an unnamed company.

The complaint against “XYZ Corp.” was filed under seal today in U.S. Bankruptcy Court in Manhattan. The docket entry for the lawsuit listed the demand as “$3135671000,” or $3.14 billion.

The trustee, New York attorney Irving Picard, said the number listed in the court docket was wrong and the correct amount is $3.14 million.

Picard earlier today filed a complaint against JPMorgan Chase & Co., seeking $6.4 billion for the bank allegedly enabling Madoff’s fraud. The lawsuit against JPMorgan was also filed under seal, according to a statement by Picard. The New York-based bank said the trustee’s claims were “irresponsible and over-reaching.”

Over the past week, Picard has sued hundreds of so-called “net winners,” investors who withdrew more from their Madoff accounts than they invested. Picard, supported by a ruling in the case from U.S. Bankruptcy Judge Burton Lifland, claims such fictitious profits must be returned to the bankruptcy estate and paid out to all of Madoff’s victims with valid claims.

The case against the unidentified company is Irving Picard v. XYZ Corp., 10-ap-05106, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

The JPMorgan lawsuit is Picard v. JPMorgan Chase & Co., 10-ap-04932, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.