UBS Sued for $2 Billion by Madoff Trustee, Calls Fraud Claims `Unfounded' - Bloomberg: "UBS AG, the Swiss wealth-management firm sued for fraud by the trustee liquidating jailed con man Bernard L. Madoff’s assets, denied complicity in the Ponzi scheme and said clients knew with whom they were dealing.
Irving H. Picard, trustee for the liquidation of Bernard L. Madoff Investment Securities LLC, is seeking at least $2 billion in behalf of Madoff’s victims, according to the complaint, filed yesterday in U.S. Bankruptcy Court in New York."
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