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Seanna Brown Praises Supreme Court Denial of Madoff Investors' Bid to Keep $41 Million in Profits

News / April 3, 2021

Partner Seanna Brown is quoted in an article published on May 3, 2021, by Law360. The article, “Justices End Madoff Investors’ Fight for $41M in Profits,” reports on the U.S. Supreme Court’s denial of a petition by investors seeking to keep $41 million in profits earned through Bernie Madoff’s Ponzi scheme.

It is the latest win for the Securities Investor Protection Corp. and for BakerHostetler Partner Irving Picard, the liquidation trustee who has recovered more than $13.3 billion and distributed $12.4 billion to defrauded Madoff investors. Brown represents Picard in the proceedings.

"The Supreme Court's decision to deny the defendants' petition for certiorari is an important development in the Madoff recovery effort," Brown told Law360. "The SIPA trustee and his legal team continue to move forward with recovering and returning those funds to Madoff's victims with allowed claims who have yet to fully recoup their investments."

Read the article (registration required).