Bernard Madoff’s defense attorney, Ira “Ike” Sorkin, may have a conflict of interest defending his client in a $50 billion fraud case because the lawyer’s parents invested with Madoff until 2007, according to ethics experts.
The investment, which came to light as part of a list of Madoff clients filed in federal court, was an individual retirement account opened by Sorkin’s father and inherited by his mother in 2001, Sorkin said. When his mother died in 2007, the IRA was cashed out. Madoff’s alleged Ponzi scheme, the largest in history, went back at least to the 1970s, according to people familiar with the case.
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