Madoff Trustee Increases Amount Sought From the Philanthropist Picower

The trustee charged with trying to recover some of the $18-billion in assets lost by nonprofit and other investors in Bernard Madoff’s Ponzi scheme has increased the amount he is seeking from the businessman and philanthropist Jeffry M. Picower, The Wall Street Journal reports.

Irving Picard, the trustee, says he is now seeking about $7.2-billion from Mr. Picower because of his alleged role in the fraud.

Mr. Picower has said he had no knowledge of the wrongdoing and has denied many of the trustee’s charges. His lawyers did not comment in the Journal story.

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