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Peter Madoff, Subject of Criminal Probe

Posted by Larry Doyle on January 27, 2010 5:22 PM |

Bloomberg just reported, Peter Madoff ‘Subject’ of U.S. Criminal Investigation:

Peter Madoff, brother of imprisoned con artist Bernard Madoff, is the subject of a U.S. criminal investigation, his lawyer said in a civil lawsuit over losses by the charitable foundation of U.S. Senator Frank Lautenberg.

Bernard Madoff is serving 150 years in prison for running the largest Ponzi scheme in history. His brother, who was chief compliance officer at Bernard L. Madoff Investment Securities LLC, has not been criminally charged by the U.S. Attorney’s Office in New York. That could change, his lawyer said in court papers filed yesterday in the Lautenberg case.

“The USAO has informed us that Peter Madoff is a ‘subject’ of its criminal investigation,” Madoff attorney Charles Spada wrote yesterday to U.S. Magistrate Judge Madeline Cox Arleo in federal court in Newark, New Jersey.

Why is it that it takes a lawsuit by Frank Lautenberg’s foundation to put Peter in the spotlight? Who in America believes Peter Madoff was not aware of what was going on within Bernard Madoff Investment Services?



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