Picard v. Legacy Capital Ltd. (In re Bernard L. Madoff Inv. Sec. LLC)

Ruling: 
Fraudulent transfer proceeding against recipient of Ponzi scheme distributions dismissed except to the extent seeking to recover fictitious profits.
Issue: 
Could the Madoff trustee avoid and recover approximately $213 million in initial transfers made to investor and approximately $6.6 million in subsequent transfers made to accounting service?
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Commercial case opionion summary, case decided on March 14,2016, LexisNexis #0416-023