In brief: Madoff trustee files lawsuits
NEW YORK – The New York trustee appointed to recover money jailed financier Bernard Madoff stole from investors has sued three entities where he says more than $30 million in Madoff family money was tucked away.
Trustee Irving Picard identified the money in three lawsuits filed Thursday in federal court in Manhattan.
Picard has accused Madoff family members including Madoff’s sons of funding lavish lifestyles with close to $200 million stolen from thousands of customers of Madoff’s private investment service.
WASHINGTON – President Barack Obama says the government will recover all the taxpayer money his administration used to bail out the auto industry last year.
In an interview aired Thursday on the ABC talk show “The View,” Obama said the auto industry “tells a good story” of his administration’s efforts to rescue the economy. He planned to highlight that story with stops at three auto plants over the next several days.
The White House said Obama’s proclamation on recouping funds refers only to the $60 billion his administration spent rescuing the auto industry, not the $25 billion spent under the Bush administration.