Madoff Investors Protected by Law Firm Who Are Sued to Return Distributions – US Litigation Newswire

LOS ANGELES, Jan. 5, 2009 – LawFuel Litigation Newswire – Klueger & Stein, LLP
( announced today that
it has been contacted by investors who received
distributions from Bernard L. Madoff Investment Securities,
and who fear that a Madoff bankruptcy trustee may sue them
to return distributions they received early on in Madoff’s
Ponzi scheme.

Founding attorney Robert F. Klueger explained that a
bankruptcy trustee’s ability to seize distributions from
what turned out to be a Ponzi scheme is based on the theory
of “fraudulent conveyance,” and may nab even those investors
who were innocent victims of Madoff’s scheme. This may
impact even those investors who received distributions years

“The ability of the trustee to get at a person’s assets will
depend on a number of factors, including the state in which
the investor lives, and whether the investor is married or
single,” explained Mr. Klueger. “Florida investors who own
multi-million dollar homes may be protected,” he continued.
“Others, who live in states whose laws are not so generous,
may have to scramble to keep what’s left.”

Klueger & Stein, LLP is the nation’s leading asset protection
firm, an area of the law focusing on protecting the assets
of clients from civil creditors. Partners Robert F. Klueger
and Jacob Stein may be contacted at 818-933-3838. News
contact: Cindy Rakowitz – (818) 783-3307 or
[email protected]

See <a href= legal jobs online here

Scroll to Top