Madoff trustee sues Banque Syz for $73.3 million

Irving Picard, the trustee seeking money for Bernard Madoff's victims, is suing Swiss private bank Banque Syz & Co SA to recover $73.3 million derived from "feeder" funds in the Ponzi schemer's former investment firm.

In his lawsuit, filed in the bankruptcy court in the southern district of New York on Friday, Picard said Banque Syz should have known of the numerous irregularities concerning investing through Madoff's investment company BLMIS.

"Contrary to the allegations that were made by the trustee, Banque Syz did not know and could not have known anything about Madoff's fraudulent activities," a spokesman for the Geneva-based bank said.

"We have filed a claim on behalf of our clients to recover our investments," the spokesman added.

Picard has filed more than 1,000 lawsuits to recover about $100 billion. Picard has said he has recovered more than $7.6 billion, though most of that is tied up in litigation.