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Madoff Proceedings: Billion Lawsuit against Bank Austria

People ♦ Published: December 13, 2010; 19:48 ♦ (Vindobona)

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The former chairman of Bank Medici, Sonja Kohn, is said to have managed the Madoff system for years. A lawsuit has been filed from the US.

Madoff Proceedings: Billion Lawsuit against Bank Austria / Picture: © Vindobona.org

The administrator of the insolvent fund of convicted Bernard Madoff, Irving Pircard, filed a claim of over € 19.6bn against the Medici Bank, its former director, Sonja Kohn, and Bank Austria, the biggest compensation claim so far in the Madoff proceedings. Overall damages suffered by investors because of the cheating scandal made public in 2009 amount o to around $…