Madoff trustee files first clawback suit to recover funds from investors

Investors who made money investing through Bernie Madoff could be facing a clawback lawsuit, which seeks to get back funds from investors who made withdrawals before the firm collapsed. According to the Wall Street Journal, the first lawsuit was filed by Madoff Trustee Irving Picard on Thursday. Picard seeks to get $150 million back from Vizcaya Partners, a Madoff investor based in the British Virgin Islands.

As I wrote in December, investors who made money with Madoff any time in the past six years could be at risk for such a lawsuit.