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Peter Madoff Agreed to Asset Freeze in December

By Mark H. Astarita, Esq.

We thought that the TRO freezing Peter Madoff's assets last week (see here) was big news. While it should have been, after the court refused to lift the freeze, Madoff appealed, and according to the WSJ, his attorney disclosed to the court that Peter Madoff had already agreed to an asset freeze with federal prosecutors in December of last year.That makes for an interesting turn of events, but probably only interesting to litigation attorneys. Civil plaintiff moves to freeze assets of a defendant that the government has already frozen. While I do not know enough about the case, that should mean that the civil plaintiff's asset freeze is unnecessary and meaningless. Which is what Madoff's attorneys apparently argued, if the WSJ article is correct...continue to full post

Full post as published by SECLaw.com on March 31, 2009 (boomark / email).