The trustee filed lawsuits worth of $20bn. against Madoff on behalf of the victims who caught into the alleged Ponzi Scheme ran by Bernard Madoff.
Mr. Irving Picard charged nearly 60 people, including a major shareholder in Austria's Medici Bank. A week earlier, Mr. Picard sued HSBC bank for $9bn and the similar suits were filed against JP Morgan Chase and UBS Bank.
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