Remainder trust may sue accountant in Madoff scam

A federal District Court in Florida, applying the substantive law of New York, has refused to grant a summary judgment motion to dismiss a breach of fiduciary duty claim against an accountant who supervised a $4 million investment for a charitable remainder unitrust in Bernard Madoff’s Ponzi scheme.  The Court held that there is a material question of fact about whether the accountant had acted to create a fiduciary duty to the trust.