Madoff Trustee in Money Fight With Dead Sons' Estates

Madoff Trustee in Money Fight With Dead Sons' Estates

Assessment

Interactive Video

Business, Social Studies

University

Hard

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The transcript discusses a lawsuit involving a trustee seeking to recover $150 million from the estates of two deceased individuals linked to Madoff's firm. The trustee claims they received excessive salaries and took sham loans, arguing they should have known the money was fraudulent. Despite legal challenges, including a previous UK case where the brothers were cleared, the trustee is determined to pursue the case. The estates have about $35 million in assets, and the trustee's strategy relies on extensive financial records. The brothers were investigated but never charged, although they were implicated in deleting emails during an SEC investigation.

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2 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What evidence does the trustee have to support his claims against the brothers?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

What was the outcome of the separate case filed in London involving the British subsidiary?

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