Madoff trustee asks for firms, property and artwork
Lawyer Blogs
A court-appointed trustee in the case against Bernard Madoff has asked a judge if he may take over ownership of the accused swindler's firm, an associated trading firm, property, artwork and corporate entertainment tickets.
Court documents seen on Tuesday said the trustee, New York lawyer Irving Picard, had made the request with the consent of other civil and criminal investigators as part of efforts to recover assets for Madoff's customers.
Madoff, a once-respected Wall Street trader and investment manager, was arrested and charged with fraud on December 11 after authorities said he confessed to running a $50 billion Ponzi scheme over many years. He is the only person charged in the purported scheme, in which early investors are paid with the money of new clients.
The document filed in U.S. District Court in Manhattan said Picard was seeking control of Bernard L. Madoff Investment Securities LLC (BLMIS) and Primex Holdings LLC "and any membership or ownership interest therein." Primex was a digital trading firm that operated out of Madoff's New York headquarters in what is known as the "Lipstick Building."
The trustee said he wanted Madoff to voluntarily hand over "all of his rights, title and interests" to the firms, property and other assets he listed.
The filing comes after a U.S. judge on Monday partially lifted a freeze on assets of Madoff and his wife Ruth Madoff so he can cooperate with Picard. On Monday, lawyers for Ruth Madoff asserted that her $7 million Manhattan apartment and $62 million in accounts were unrelated to the purported fraud.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.