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Second Circuit Revives $3.75 Billion in Lawsuits by the Madoff Trustee Against Financial Institutions

Reversing in favor of the Madoff trustee, the Second Circuit rules that inquiry notice, not willful blindness, governs the good faith defense by recipients of fraudulent transfers.

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Opinion Link

Case Details

Case Citation

Picard v. Citibank NA (In re Bernard L. Madoff Investment Securities LLC), 20-1333 (2d Cir. Aug. 30, 2021)

Case Name

Picard v. Citibank NA (In re Bernard L. Madoff Investment Securities LLC)

Case Type

Na
Court