NY man can't get Madoff millions from ex-wife
A judge ruled out a man to recover money he paid to his ex-wife in a divorce agreement believing they had millions of dollars invested with Bernard Madoff.
By Agencies |
NEW YORK: A judge says a prominent New York City lawyer cannot recover money he paid in a divorce agreement when he believed he and his ex-wife had millions of dollars invested with imprisoned financier Bernard Madoff.
Steven Simkin says he gave Laura Blank $6.6 million as her share of marital assets in July 2006 after more than 30 years of marriage. The amount included $2.7 million that was half the value of Simkin's Madoff account.
But the account with Bernard L Madoff Investment Securities was empty. Madoff later admitted cheating thousands of investors and was imprisoned.
A Manhattan Supreme Court justice ruled Blank did not have to "shoulder her share" of Madoff losses and threw out the case.
Simkin heads the real estate department at the well-known law firm Paul, Weiss, Rifkind, Wharton & Garrison.
Steven Simkin says he gave Laura Blank $6.6 million as her share of marital assets in July 2006 after more than 30 years of marriage. The amount included $2.7 million that was half the value of Simkin's Madoff account.
But the account with Bernard L Madoff Investment Securities was empty. Madoff later admitted cheating thousands of investors and was imprisoned.
A Manhattan Supreme Court justice ruled Blank did not have to "shoulder her share" of Madoff losses and threw out the case.
Simkin heads the real estate department at the well-known law firm Paul, Weiss, Rifkind, Wharton & Garrison.
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