US targets Madoff sons' millions



US prosecutors on Tuesday targeted the two sons of investment fraudster Bernard Madoff as part of a widening attempt to recover billions of stolen dollars.
Prosecutors filed papers showing their intent to seize a total of 31.55 million dollars from Andrew and Mark Madoff, who were close business associates of their father.



US targets Madoff sons' millions
The money consists of a series of loans apparently made by Madoff to his sons, most of which was due to be paid back next year.
Madoff was jailed last week after pleading guilty to a massive, decades-long scheme to rip off investors.
Prosecutors have already announced they want to seize assets in the name of Madoff's wife Ruth.
But this was the first time that the operation to recover the missing billions of dollars turned on the sons.
Madoff claimed in court that he acted alone and that his family members knew nothing of his scam. However, the latest moves are likely to fuel speculation that investigators are probing the rest of the family.
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Image from boston.com

Tuesday, March 17th 2009
AFP
           


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