Advertisement
YOU ARE HERE: LAT HomeCollections

$1 billion in Madoff assets are found

March 24, 2009|Associated Press

NEW YORK — A lawyer for the trustee trying to track down disgraced financier Bernard Madoff's assets for investors said more than $1 billion had been found.

Attorney David Sheehan said $75 million located in an account in Gibraltar raised the amount being pursued past the $1-billion mark.

Sheehan spoke after a civil court hearing Monday in which the trustee sought power of attorney over Madoff's international operation.

Madoff is in prison awaiting sentencing after pleading guilty two weeks ago to charges that he ripped off thousands of investors in a $65-billion Ponzi scheme.

Advertisement
Los Angeles Times Articles
|
|
|