Madoff Trustee Saves the Best for Last

After filing a series of lawsuits to recover funds for victims of the Madoff Ponzi scheme Irving Picard, the court appointed trustee, filed yet another and the largest seeking $19.6 billion. The suit against Australian banker Sonja Kohn and her Bank Medici was filed on Friday, December 10, 2010, which is the eve of the second anniversary of the discovery that Bernie Madoff had committed the largest Ponzi scheme in history. Allegations are that Ms. Kohn masterminded “a 23 year criminal relationship with Bernard Madoff” playing an “indispensible role in facilitating the Ponzi scheme.”

Picard said that “In Sonja Kohn, Madoff found a criminal soul mate, whose greed and dishonest inventiveness equaled his own” and she had been a major player in the scheme since they met in New York in 1985. Over time he had funneled $62 million in kickbacks to Kohn for her shoveling $9.1 billion of investor cash into the fraud.

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