Madoff Trustee vs. Carl Shapiro: A Public Airing Begins

from Boston.com:

The trustee in the Madoff case has identified 2,568 investors who could be forced to return money, with Boston philanthropist Carl Shapiro one of the biggest among them.

Philanthropist got $1b in fake profit, Madoff trustee says

The trustee in the Bernard Madoff case is accusing Boston philanthropist Carl Shapiro and his family foundation of reaping $1 billion in fictitious profits from investments over 40 years, calling the Shapiros among the “largest beneficiaries’’ of Madoff’s Ponzi scheme.

The trustee, Irving Picard, made the allegations in a court filing last week, after months of private negotiations between his office and lawyers for the 96-year-old Shapiro broke down.