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Not long after Melvyn Weiss wrapped up his prison sentence last year for paying kickbacks to securities class action plaintiffs, the former Milberg chief found himself drawn into a different headline-grabbing scandal. Mr. Weiss, along with family members and former Milberg partner David Bershad, was accused by the Bernard L. Madoff Investment Securities liquidation trustee of making $33 million from Mr. Madoff’s Ponzi scheme, and the trustee, Irving Picard of Baker & Hostetler, wanted most of that money back. Ten months later, Mr. Weiss is finally fighting back. Lawyers for Mr. Weiss at Seeger Weiss, his son’s firm, filed a motion last week seeking to have the suit that Mr. Picard filed last year withdrawn from bankruptcy court and put before a federal district court judge. Mr. Weiss claims that the transfer is justified since the complaint raises “significant issues of non-bankruptcy law” and relies on a novel interpretation of the Securities Investor Protection Act.

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