2009-05-13reuters.com

Cayman Islands hedge fund Harley International Ltd withdrew $425 million from swindler Bernard Madoff in the three months before his arrest, according to a lawsuit seeking more than $1 billion from the fund.

The lawsuit on Tuesday by trustee Irving Picard, who is spearheading a global search to return money to thousands of defrauded customers, is one of several against funds that fed Wall Street's biggest investment scheme over 20 years.

So far the Madoff firm's trustee has recovered about $1 billion but he has vowed to target funds and money managers to recover as much as possible from the worldwide $65 billion fraud.


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