Saturday, 25 April 2015
Last updated 12 hours ago
Jul 27 2011 | 11:51am ET
Citigroup yesterday rejected the court-appointed trustee in the Bernard Madoff case's allegations against it and asked a federal bankruptcy court to toss his lawsuit against the bank.
Irving Picard's $430 million suit against Citi "relies on the combination of widely known but innocuous information about" Bernard L. Madoff Investment Securities, "along with obscure economic discrepancies developed by the trustee and his experts over the past two years."
Picard has accused Citi of concluding more than a year-and-a-half before Madoff's arrest that a Madoff feeder fund, Fairfield Sentry, was posting returns that could not have been made by Madoff's strategy. Citi, in its filing yesterday, said that Picard cannot show that or that Citi had any fraudulent purposes in its actions.
A Citi hedge fund servicing unit has been separately sued by Picard.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…