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Madoff case trustee targeting sons, brother: report

NEW YORK (Reuters) - The court-appointed trustee in charge of the Bernard Madoff Ponzi case is preparing to file civil complaints against Madoff's two sons, as well as his brother, CBS News reported on Tuesday.
/ Source: Reuters

NEW YORK (Reuters) - The court-appointed trustee in charge of the Bernard Madoff Ponzi case is preparing to file civil complaints against Madoff's two sons, as well as his brother, CBS News reported on Tuesday.

Trustee Irving Picard will seek more than $50 million, including at least $30 million in loans to the sons, the report said, citing a source. It added the aim was to recapture money diverted from Madoff's massive Ponzi scheme.

Picard also wants to force the Madoffs to reveal all of their assets, including bank accounts and a home one son, Mark, bought for $6.5 million in cash, the report said, citing other sources.

Picard could not be immediately reached at his New York office.

Madoff, 71, is serving a 150-year prison sentence after pleading guilty to engineering the long-running $65 billion fraud, Wall Street's biggest. His sons, Mark and Andrew, ran the trading division at their father's firm, while Madoff's brother, Peter, was its chief compliance officer.

(Reporting by Jonathan Spicer; Editing by Muralikumar Anantharaman)