Friday, January 2, 2009

Madoff Trustee Seeks Broad Subpoena Power

With his 28 million dollar warchest, it looks like Madoff's SIPC Trustee is going to be spending it. According to this article in the NYT, he is asking for extremely broad subpoena power from the court, and given the scope of the fraud, I don't doubt that he will get it.

We already have the FBI, the US Attorney and the SEC conducting investigations. Along with the SIPC Trustee, they will be tripping over themselves.

And a word to the wise - regardless of what your involvement is in this Madoff Mess, consult counsel before speaking to anyone about any of this. This is not a game, and the Trustee will be actively seeking to EXCLUDE claims, since he is not going to have enough money to go around.

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