Jefferies In Trouble, Receives Madoff Subpoena

Looks like the list of independent investment banks may soon be one less. U.S. Trustee Irving Picard, who is liquidating the Bernie Madoff estate, has issued a subpoena to middle-market advisory boutique Jefferies. As Jefferies is mostly a high yield trading platform it is a little odd that it is the the first company to feel the wrath of the trustee. The 2004 examination order was sent on February 13 and made available by New York bankruptcy court today. The scope of the investigation was not disclosed in the subpoena form. The subpoena was also distributed to the IRS, SEC Attorney General's office and the SIPC. As the liquidation case picks up it is likely that many more such subpoenas are disseminated.

Full subpoena here. Sphere: Related Content

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