BREAKING NEWS

Austrian bank strikes back at Madoff trustee

By ASSOCIATED PRESS

DECEMBER 15, 2010 02:59

NEW YORK — An Austrian bank on Tuesday accused the trustee recovering money for victims of Bernard Madoff's fraud of demanding nearly $20 billion from the bank, its principal shareholder and others, as part of an "international witch-hunt."

In a statement out of Vienna, 2020 Medici — formerly known as Bank Medici — blamed court-appointed trustee Irving Picard for unfairly casting blame for Madoff's epic fraud on the bank and Sonja Kohn. The bank said the claims "are completely unfounded and untrue."

Last Friday, Picard filed papers in US Bankruptcy Court in Manhattan saying that Kohn was in essence Madoff's "criminal soul mate."

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