We've heard a lot of vitriol from victims of the Bernard Madoff scam about the aiders and abettors. Now the alleged aiders and abettors are hitting back. Recall that trustee Irving Picard, sparing no one in his quest for the ill-gotten gains, sued Jeffry Picower, the philanthropist, for helping Madoff put the Ponzi scheme together.

Picower has responded with a lengthy denial, noting the charges are "riddled with significant factual errors, such as the false claim that the Picower earned returns of over 950 percent," according to the New York Times. Picower claims his account returns--far from extraordinarily high, were consistent with profits earned by other "large and distinguished investment managers," such as John Paulson. This is interesting. He also notes that he's been wiped out by Madoff.

For more:
- here's the article

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