The trustee liquidating convicted fraudster Bernard Madoff's companies is suing Credit Suisse for $375 million, money which he said was transferred to the bank but belongs to the estate of Madoff's collapsed businesses. The filing, on December 12, followed claims of $38.7 million and $37.3 lodged respectively against Swiss private banks Falcon, formerly AIG Private bank before it was sold by the US insurer, and Julius Baer on December 8.
All the claims refer to transfers from Connecticut-based Fairfield Sentry, the largest Madoff feeder fund which reportedly had assets under management of close to $7 billion prior to the collapse of Madoff's Ponzi scheme.