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Madoff’s Brother Faces Court Hearing


madoff.jpgWall Street swindler Bernard Madoff’s brother is expected in a suburban New York courtroom in a civil case accusing him of mishandling a college student’s money.

Peter Madoff is the target of a lawsuit that claims he took $478,000 of student Andrew Ross Samuels’ money and invested it in his brother’s Ponzi scheme. Bernard Madoff is awaiting sentencing after pleading guilty to charges that he fleeced investors of billions of dollars.

A state court judge in Mineola, N.Y., temporarily froze Peter Madoff’s assets last week. The judge is expected to consider whether to continue the freeze.

Peter Madoff was an executive at his brother’s company, Bernard L. Madoff Investment Securities. He has not been charged with any criminal wrongdoing.

(Source: WCBSTV)



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