LOS ANGELES, Jan. 5, 2009 — Klueger & Stein, LLP (http://www.maximumassetprotection.com) announced today that it has been contacted by investors who received distributions from Bernard L. Madoff Investment Securities, and who fear that a Madoff bankruptcy trustee may sue them to return distributions they received early on in Madoff's Ponzi scheme.
Founding attorney Robert F. Klueger explained that a bankruptcy trustee's ability to seize distributions from what turned out to be a Ponzi scheme is based on the theory of "fraudulent conveyance," and may nab even those investors who were innocent victims of Madoff's scheme. This may impact even those investors who received distributions years ago.
"The ability of the trustee to get at a person's assets will depend on a number of factors, including the state in which the investor lives, and whether the investor is married or single," explained Mr. Klueger. "Florida investors who own multi-million dollar homes may be protected," he continued. "Others, who live in states whose laws are not so generous, may have to scramble to keep what's left."
Klueger & Stein, LLP is the nation's leading asset protection firm, an area of the law focusing on protecting the assets of clients from civil creditors. Partners Robert F. Klueger and Jacob Stein may be contacted at 818-933-3838. News contact: Cindy Rakowitz – (818) 783-3307 or Email.
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