The Trustee overseeing the dissolution of Bernie Madoff’s firms has come across $946 million in assets, which is not bad for a day’s work. But check out this tiny little drama. If Peter Madoff, Bernie’s brother, was kept in the dark about what Bernie was doing, why did he stick some poor underling with liability on a car lease when he could have signed it himself? No fool, he.
Kugel signed a lease for the car in October because Madoff refused to provide the necessary financial information about his firm to the car dealership, attorneys for Kugel wrote in a court filing. Madoff’s brother Peter, the firm’s chief compliance officer, allegedly designated Kugel as a director and told him to sign the lease on the firm’s behalf; now he’s being held personally liable for the lease, the attorneys wrote.