Madoff trustee ups claim against investor Picower
Legal News Center
Investor Jeffry Picower, described as the biggest beneficiary of Bernard Madoff's fraud, is now being sued for $7.2 billion, $2 billion more than the trustee in the case demanded in May.
Picower, newly listed as one of the 400 wealthiest Americans by Forbes magazine, was complicit in the fraud, trustee Irving Picard said in court documents on Wednesday responding to the investor's motion to dismiss his lawsuit.
"Picower makes the paradoxical argument that he could not have been complicit in the Ponzi scheme because he made too much money from it," Picard wrote in the filing in U.S. Bankruptcy Court in New York.
"The unusual, if not unlawful activity in his accounts, including one negative net cash balance of approximately $6 billion at the time of Madoff's arrest, was clear evidence that something was seriously amiss."
Picower, 67, of Palm Beach, Florida, was listed 371st and worth $1 billion on the Forbes list published this week.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.