Flurry of 'Clawback' Suits Filed by Trustee in Madoff Case

A flurry of December lawsuits filed by the trustee in the Bernie Madoff case include attempts to reclaim funds from more than twenty Jewish groups alleged to have profited from their investments with the disgraced financier, the Jewish Daily Forward reports.

In an apparent attempt to beat a December 11 deadline, the two-year anniversary of Madoff's arrest, trustee Irving Picard and his legal team have filed so-called "clawback" suits against hundreds of nonprofits, including the America-Israel Cultural Foundation in New York City, the Jerusalem-based American Committee for Shaare Zedek Medical Center, the Joseph Persky Foundation, the Miles and Shirley Fiterman Charitable Foundation, and the Melvin B. Nessel Foundation. To date, a suit has not been filed against Hadassah, which publically stated that it profited from its Madoff investments.

None of the foundations and charities sued was alleged to have been aware that Madoff's operation was fraudulent.