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4 years in, Madoff trustee still pursuing assets

December 11, 2012 • Business


FILE – In this Monday, March 19, 2012, photo, David Sheehan, representing the trustee for Bernard Madoff’s fraud victims, leaves federal court in New York. Irving Picard, the trustee appointed to recover funds for Madoff victims, and a battalion of lawyers headed by Sheehan have spent long days untangling Madoff’s fraud. On the fourth anniversary of Madoff’s Dec. 11, 2008, arrest, it’s an international effort that shows no signs of slowing. (AP Photo/Seth Wenig)

NEW YORK (AP) — When he was first told in 2008 about Bernard Madoff’s epic Ponzi scheme, attorney David Sheehan had a response that now sounds inconceivable.

“Who,” he wondered, “is Bernie Madoff?”

Four years after Madoff’s arrest, Sheehan has been thoroughly educated about the disgraced financier.

Irving Picard, the trustee appointed to recover funds for Madoff victims, and a battalion of lawyers headed by Sheehan have spent long days untangling Madoff’s fraud. On the fourth anniversary of Madoff’s Dec. 11, 2008, arrest, it’s an international effort that shows no signs of slowing.

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