Madoff family members to be sued...

Epic swindler Bernard Madoff's two sons, his brother and a niece will be sued this week for $198 million, the trustee winding down the Madoff firm told CBS News' "60 Minutes" broadcast on Sunday.

Sons Mark and Andrew, brother Peter and niece Shana all held executive positions with the firm and should have known about the multibillion-dollar, worldwide 20-year-long Ponzi scheme, trustee Irving Picard and his chief counsel David Sheehan, told the program.

Wall Street's biggest investment fraud, a Ponzi scheme in which early investors are paid with the money of new clients, collapsed in the declining economy last December. Madoff confessed to the fraud of as much as $64.8 billion and is serving a 150-year prison sentence. More...

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