{"id":6439,"date":"2010-07-21T17:08:43","date_gmt":"2010-07-21T21:08:43","guid":{"rendered":"http:\/\/blogs-devl.bu.edu\/bunow\/?p=6439"},"modified":"2011-01-20T11:34:42","modified_gmt":"2011-01-20T16:34:42","slug":"madoff-trustee-sues-feeders","status":"publish","type":"post","link":"https:\/\/blogs-devl.bu.edu\/bunow\/2010\/07\/21\/madoff-trustee-sues-feeders\/","title":{"rendered":"Madoff trustee sues &#8220;feeders&#8221;"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"alignright size-thumbnail wp-image-6440\" src=\"http:\/\/blogs-devl.bu.edu\/bunow\/files\/2010\/07\/Bernie-Madoff-150x150.jpg\" alt=\"Bernie Madoff\" width=\"108\" height=\"108\" \/>The trustee overseeing the liquidation of the estate of convicted swindler Bernie Madoff (r.)\u00a0has <a title=\"sued\" href=\"http:\/\/www.reuters.com\/article\/idUSN2114527520100721\" target=\"_blank\">sued <\/a>25 feeder funds and 19 individuals for wrongly enriching themselves from the multi-billion-dollar Ponzi scheme for which Madoff is serving a 150-year sentence in federal prison.\u00a0 Law Professor <a title=\"Tamar Frankel\" href=\"http:\/\/www.bu.edu\/law\/faculty\/profiles\/bios\/full-time\/frankel_t.html\" target=\"_blank\">Tamar Frankel<\/a>, a securities law authority and author of &#8220;<em><a title=\"Trust and Honesty: America's Business Culture at a Crossroad\" href=\"http:\/\/www.oup.com\/us\/catalog\/general\/subject\/Finance\/Corporate\/?view=usa&amp;ci=019517173X\" target=\"_blank\">Trust and Honesty: America&#8217;s Business Culture at a Crossroad<\/a><\/em>,&#8221; says all of those feeders of money benefitted, like all money managers, from their services &#8212; but they allegedly had actual knowledge of what Madoff was doing.<\/p>\n<p><em>&#8220;They should have checked.\u00a0 If they did not, they should repay the fees and compensate for damages caused by their negligence.\u00a0 This is not a claim on hindsight for unexpected damage &#8212; this is a claim for keeping their eyes tightly shut.\u201d<\/em><\/p>\n<p>Contact Tamar Frankel, 617-353-3773, <a href=\"mailto:tfrankel@bu.edu\">tfrankel@bu.edu<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The trustee overseeing the liquidation of the estate of convicted swindler Bernie Madoff (r.)\u00a0has sued 25 feeder funds and 19 individuals for wrongly enriching themselves from the multi-billion-dollar Ponzi scheme for which Madoff is serving a 150-year sentence in federal prison.\u00a0 Law Professor Tamar Frankel, a securities law authority and author of &#8220;Trust and Honesty: [&hellip;]<\/p>\n","protected":false},"author":114,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4491],"tags":[1333,3395,1372,2308],"_links":{"self":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6439"}],"collection":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/users\/114"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/comments?post=6439"}],"version-history":[{"count":7,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6439\/revisions"}],"predecessor-version":[{"id":7652,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6439\/revisions\/7652"}],"wp:attachment":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/media?parent=6439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/categories?post=6439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/tags?post=6439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}