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Posts Tagged ‘sipc mission’

Madoff Investors Sue SIPC = Main St. Sues Wall St.

Posted by Larry Doyle on February 25th, 2010 11:35 AM |

I highlighted yesterday the fact that Madoff investors planned to sue SIPC. Further details on this suit are in a press release today. I view this lawsuit as nothing short of Main Street suing Wall Street.

Game on!!

MADOFF VICTIMS SUE SIPC DIRECTORS FOR PERPETRATING MASSIVE INVESTMENT INSURANCE FRAUD AGAINST AMERICAN INVESTORS

Suit charges SIPC fraudulently induced Madoff investors to believe they had up to $500,000 insurance coverage on securities and seeks compensatory and punitive damages

New York, NY – Three New Jersey Madoff investors have sued the directors and key officers of the Securities Investor Protection Corporation (SIPC) for what they allege is a massive investment insurance scam. (more…)






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