Mr. Justice Popplewell recently dismissed the lawsuit filed by liquidators of Madoff Securities International Ltd after a lengthy trial in the High Court through which they were seeking to recover around $50 million. The ruling exonerated the UK defendants including former Bank Medici AG Chairwoman Sonja Kohn and the Directors of Bernard Madoff’s European organisation, including his children Mark and Andrew.
Andrew Madoff’s lawyer, David Archer, Partner at Pitmans LLP said of the ruling that “The High Court has completely vindicated the role of the Directors of Bernie Madoff’s English trading company and has confirmed that Mark and Andrew Madoff were honest Directors who knew nothing of their father’s fraud. The Judge has expressed profound sympathy for what the Defendants, including Andrew and his brother’s family have been put through. He commended them for their personal integrity and has criticised the way in which this unfounded Claim has been relentlessly pursued. Andrew Madoff and his family are pleased that, after a thorough review of all the facts, justice has been served.”
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