Madoff Ponzi Scheme Lawsuits | featured news

Citigroup Inc saw several red flags in the dealings of Bernard Madoff's firm years before his multibillion-dollar fraud was exposed in late 2008, the firm's liquidator said in a newly unsealed lawsuit.

The owners of the New York Mets were accused of reaping $300 million of fictitious profits from Bernard Madoff's record Ponzi scheme, a lawsuit by the trustee seeking money for Madoff's victims said.

Epic swindler Bernard Madoff's two sons, his brother and a niece will be sued this week for $198 million, the trustee winding down the Madoff firm told CBS News' "60 Minutes" broadcast on Sunday.

Swindler Bernard Madoff's family were enriched by millions from his firm, which also paid their country club memberships and salaries of boat captains, housekeepers and others who did not work for the company, according to new court documents.

Some former customers of financier Bernard Madoff despise him for his fraud, but they are also angry with their government and a financial system they say robbed them of their savings.