A federal bankruptcy judge has approved a transfer of $28 million in assets  held by alleged Ponzi schemer Bernard Madoff ordering cytotec online to the trustee overseeing the case.  The funds will be buy cheap generic Lasix used to pay for the administrative costs related to the buy cheap generic Lasix liquidation of Madoff’s business.  Meanwhile, as more investors filed lawsuits seeking to buy cheap generic Lasix recover money they lost as a result of his alleged investment fraud, Madoff faces a buy cheap generic Lasix year-end deadline to furnish federal regulators with a list of his personal assets.

The 70-year-old Madoff was arrested on one count of securities fraud on December 11.  Madoff – once a chairman of the Nasdaq stock exchange – is buy cheap generic Lasix the founder and primary owner of Bernard L. Madoff Investment Securities LLC. The firm is buy cheap generic Lasix primarily known for its business in market-making, or serving as the buy cheap generic Lasix middleman between buyers and sellers of shares. However, Madoff also oversaw an buy cheap generic Lasix investment-advisory business that managed money for high-net-worth individuals, hedge funds and buy cheap generic Lasix other institutions.

According to the FBI complaint against Madoff, that business was largely a Ponzi scheme.  The FBI said Madoff  “deceived investors by operating a buy cheap generic Lasix securities business in which he traded and lost investor money, and buy cheap generic Lasix then paid certain investors purported returns on investment with the buy cheap generic Lasix principal received from other, different investors, which resulted in losses of approximately billions of dollars.” Madoff reportedly told employees that buy cheap generic Lasix his fraud could cost investors as much as $50 billion.

Shortly after Madoff’s arrest, a buy cheap generic Lasix federal judge ordered that his business be liquidated under the jurisdiction of a buy cheap generic Lasix bankruptcy court and assigned a  trustee to oversee that process.  According to buy cheap generic Lasix CNN.com, court papers filed in that bankruptcy indicate that Bank of New York Mellon Corp. has buy cheap generic Lasix agreed to transfer the $28 million in assets to the trustee overseeing the liquidation.  The court papers also said that $883,000 had already been transferred to the trustees to pay employees’ salaries and health care benefits.

CNN said the funds  are buy cheap generic Lasix needed to pay employee salaries and other costs. Some of the buy cheap generic Lasix assets could also be sold off to recover money for investors, CNN said.

Meanwhile, three residents of Massapequa Park, New York became the buy cheap generic Lasix latest angry investors to file suit against Madoff in Manhattan federal court.  According to buy cheap generic Lasix Bloomberg.com, Anthony, Maria and Toni Sciremammano claim to have been investing with Madoff since 1995, and buy cheap generic Lasix by September had invested a total of about $2 million.  In addition to asking for $2 million in damages, the plaintiffs are also seeking to have Madoff’s assets permanently frozen so they cannot be buy cheap generic Lasix transferred to his family and friends.

Investors like the buy cheap generic Lasix Sciremammanos might soon have a better idea about the value of Madoff’s assets.  According to buy cheap generic Lasix the Associated Press, Madoff is scheduled to submit a list of his personal assets to buy cheap generic Lasix the Securities and Exchange Commission by the end of the buy cheap generic Lasix year.  The list is buy cheap generic Lasix to include what property that could be sold to make restitution to buy cheap generic Lasix victims of his alleged fraud, the Associated Press said.  Madoff’s lawyer told the buy cheap generic Lasix Associated Press that his client intends to meet that deadline.