openPR Logo
Press release

Securities Fraud Law Firm Zwerling, Schachter & Zwerling Representing Madoff Fraud Victims in Austria and Germany

01-22-2009 05:21 PM CET | Politics, Law & Society

Press release from: Zwerling, Schachter & Zwerling, LLP

/ PR Agency: Androvett Legal Media
Attorney Robert S. Schachter says Bank Medici and Bank Austria Implicated in Madoff Fallout

NEW YORK – An international probe by the law firm Zwerling, Schachter & Zwerling is focusing on whether major Austrian banks used financial funds in Europe to fraudulently funnel billions into Bernard L. Madoff’s bogus investment enterprises, resulting in billions in losses for European parties.

The New York-based law firm already is working with nearly a dozen individuals, partnerships and companies whose funds with Bank Austria and Bank Medici may have been improperly channeled to Madoff’s firm.

The Zwerling, Schachter & Zwerling investigation and published media accounts raise questions about the investment practices of Bank Austria and Bank Medici, as well as financial funds including Pioneer Funds (Luxembourg), Primeo Funds (including the Primeo Select Fund and Primeo Executive Funds), Herald USA Fund, Herald Luxembourg Fund, Thema Fund and their auditors.

“The auditors of these funds allowed this financial disaster to occur, and we think they have responsibility along with the banks,” says Robert S. Schachter of Zwerling, Schachter & Zwerling. “Our investigation has revealed that if financial advisors had performed basic due diligence, then they could have spotted the ruse that Madoff was perpetuating with his scheme.”

“The question will be whether these funds basically functioned as enablers for Madoff’s fraudulent scheme, making a huge profit by funneling other peoples’ money into this Ponzi scheme,” adds attorney Jeffrey Zwerling.

Zwerling, Schachter & Zwerling currently is investigating the appropriate legal approaches available to its clients. The investigation and any litigation that ensues will be undertaken on a contingent fee basis, meaning the firm’s clients will pay no legal fees unless there is a financial recovery.

For more information about the Madoff matter, please contact Mark Annick at 800-559-4534 (office), 214-213-1754 (mobile) or mark@androvett.com.

With offices in New York City, Garden City, N.Y., and Seattle, Zwerling, Schachter & Zwerling attorneys play a leading role in numerous major securities cases and complex commercial litigation matters pending in federal and state courts across the nation. The firm has been recognized by courts throughout the country as highly experienced and skilled in complex litigation, particularly with respect to federal securities class-action litigation.

Mark Annick
Androvett Legal Media
2501 Oak Lawn Avenue, Suite 650
Dallas, TX 75219
214-559-4630
mark@androvett.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Securities Fraud Law Firm Zwerling, Schachter & Zwerling Representing Madoff Fraud Victims in Austria and Germany here

News-ID: 65661 • Views:

More Releases from Zwerling, Schachter & Zwerling, LLP

Appeals Court Clears Way for Century 21 Class-Action Lawsuit
TRENTON, N.J. – A class-action lawsuit filed by Century 21 franchisees against Century 21 Real Estate Corp. and parent company Cendant is moving forward following a decision of the New Jersey Appellate Division. In August, New Jersey Superior Court Judge Robert J. Brennan certified a class of current and former Century 21 franchisees in a lawsuit alleging breach of contract and other claims against their franchisor, Century 21 Real Estate Corp.,
Consumers Ask California Appellate Court to Reconsider Cipro Anticompetitive Rev …
Cipro users forced to overpay for medications because Bayer and Barr Laboratories agreed to keep generic equivalent from marketplace, filing states SAN DIEGO – Attorneys representing plaintiffs who overpaid for the antibiotic Cipro are asking a California appellate court to reverse a lower court ruling that set aside antitrust claims against Bayer Corporation. The case involves the agreement Bayer made with generic competitors to prevent competition and to maintain Cipro
New York Law Firm Zwerling, Schachter & Zwerling to Pursue Securities Fraud Clai …
NEW YORK – The New York law firm of Zwerling, Schachter & Zwerling, LLP, has been retained by clients to pursue potential claims of securities fraud involving Dallas-based Provident Royalties, LLC. On July 7, 2009, the U.S. Securities and Exchange Commission filed suit against Provident Royalties and its three principals alleging securities fraud. Paul "Russ" Melbye, Brendan Coughlin and Henry Harrison are accused of engaging in a classic Ponzi scheme
New York Law Firm Zwerling, Schachter & Zwerling, LLP Investigating “Feeder Fu …
NEW YORK – The New York law firm of Zwerling, Schachter & Zwerling, LLP, has been retained by clients that have asked the firm to investigate so-called “feeder funds” that helped deliver billions of dollars to investment adviser Bernard L. Madoff before the recent collapse of his investment businesses. Reports indicate Madoff has admitted to operating what amounted to a $50 billion Ponzi scheme. Feeder funds, such as the Fairfield Sentry Fund,

All 5 Releases


More Releases for Zwerling

Appeals Court Clears Way for Century 21 Class-Action Lawsuit
TRENTON, N.J. – A class-action lawsuit filed by Century 21 franchisees against Century 21 Real Estate Corp. and parent company Cendant is moving forward following a decision of the New Jersey Appellate Division. In August, New Jersey Superior Court Judge Robert J. Brennan certified a class of current and former Century 21 franchisees in a lawsuit alleging breach of contract and other claims against their franchisor, Century 21 Real Estate Corp.,
Consumers Ask California Appellate Court to Reconsider Cipro Anticompetitive Rev …
Cipro users forced to overpay for medications because Bayer and Barr Laboratories agreed to keep generic equivalent from marketplace, filing states SAN DIEGO – Attorneys representing plaintiffs who overpaid for the antibiotic Cipro are asking a California appellate court to reverse a lower court ruling that set aside antitrust claims against Bayer Corporation. The case involves the agreement Bayer made with generic competitors to prevent competition and to maintain Cipro
New York Law Firm Zwerling, Schachter & Zwerling to Pursue Securities Fraud Clai …
NEW YORK – The New York law firm of Zwerling, Schachter & Zwerling, LLP, has been retained by clients to pursue potential claims of securities fraud involving Dallas-based Provident Royalties, LLC. On July 7, 2009, the U.S. Securities and Exchange Commission filed suit against Provident Royalties and its three principals alleging securities fraud. Paul "Russ" Melbye, Brendan Coughlin and Henry Harrison are accused of engaging in a classic Ponzi scheme
New York Law Firm Zwerling, Schachter & Zwerling, LLP Investigating “Feeder Fu …
NEW YORK – The New York law firm of Zwerling, Schachter & Zwerling, LLP, has been retained by clients that have asked the firm to investigate so-called “feeder funds” that helped deliver billions of dollars to investment adviser Bernard L. Madoff before the recent collapse of his investment businesses. Reports indicate Madoff has admitted to operating what amounted to a $50 billion Ponzi scheme. Feeder funds, such as the Fairfield Sentry Fund,
New York Law Firm Zwerling, Schachter & Zwerling, LLP Representing Victims in Ma …
NEW YORK – The New York law firm of Zwerling, Schachter & Zwerling, LLP, has been retained by individuals and entities that delivered hundreds of millions of dollars to investment adviser Bernard L. Madoff, who authorities say admitted to operating what amounted to a $50 billion Ponzi scheme. Since the December 11 arrest of Mr. Madoff, 70, the list of companies and individuals facing steep financial losses based on their dealings
Lehman Brothers Officers and Directors, UBS Sued Over Principal Protection Notes
NEW YORK – The New York law firm of Zwerling, Schachter & Zwerling, LLP has filed a securities class-action lawsuit against UBS Financial Services, Inc., a subsidiary of Zurich, Switzerland-based UBS AG (NYSE:UBS), as well as officers and directors of Lehman Brothers, based on financial losses suffered by investors who bought securities known as principal protection notes. Lehman Brothers issued the notes in question with UBS and Lehman serving as the