January 28, 2010 in Nation/World

Madoff’s brother under investigation

Associated Press

NEWARK, N.J. – A lawyer for the brother of Ponzi king Bernard Madoff said in court papers made public Wednesday that his client has been told he is a “subject” of criminal investigators probing the multibillion-dollar fraud.

Charles Spada said in the filing in Newark federal court that Manhattan federal prosecutors have said Peter Madoff is a “subject” of their wide-ranging probe and his “career, assets, and family all are under intense scrutiny.”

Spada disclosed the probe as he explained why his client refused to answer questions at a deposition in a lawsuit brought by a charitable foundation. He said Madoff had “a reasonable fear that his statements might be used against him in that investigation.”

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