Madoff Trustee Sues Former Tremont Capital CEO Manzke
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The trustee liquidating Bernard Madoff’s investment firm sued former Tremont Capital Management Chief Executive Officer Sandra Manzke and Maxam Capital Management seeking more than $100 million.
Maxam, which Manzke started after she left Tremont in 2005, invested more than $300 million of investors’ money with Madoff in less than three years, said Irving Picard, the trustee, in a complaint filed today in U.S. Bankruptcy Court in Manhattan. The trustee seeks a return of almost $100 million that Maxam withdrew from Madoff as well as fees the firm received.