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Madoff Trustee's Lawsuit Against Sonja Kohn

Madoff Trustee's Lawsuit Against Sonja Kohn

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Published by: DealBook on Dec 10, 2010
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310. MediciFinanz operated as Bank Medici’s de facto branch in Germany.

Bank Medici owned 50% of both MediciFinanz and APM Cayman. Kastner owned the

- 96 -

other 50% of both MediciFinanz and APM Cayman. Kastner managed both

MediciFinanz and APM Cayman. On information and belief, Kohn recruited Kastner to

the Medici Enterprise to distribute the Medici Enterprise Feeder Funds.

311. On information and belief, Kohn introduced Kastner to Madoff in New

York in the late 1990s. Shortly thereafter, Kastner returned to Germany and, with Kohn,

created MediciFinanz. On information and belief, Kohn and Kastner also created APM

Cayman to launder the funds received from HAM to Kastner and MediciFinanz. See id.

at 80, ¶ 18.

312. Kastner, through MediciFinanz, was a primary distributor and marketer of

Primeo Fund, Thema International, Alpha Prime Fund, and Herald Fund in Germany.

Kohn, through HAM, paid Kastner through APM Cayman, for his distribution and

marketing of the Medici Enterprise Feeder Funds.

313. On information and belief, Bank Austria directly mailed Kastner the

marketing materials for Primeo Fund.

314. Beginning on February 10, 2006, APM Cayman received almost $13

million in payments from HAM via wire transfer. The subject lines in the transfers refer

to these payments as “retrocession fees.”

315. These “retrocession fees” are kickbacks for selling the Medici Enterprise

Feeder Funds. Kastner, through APM Cayman, was the second-largest recipient of

transfers from HAM after Bank Medici itself. Kohn, Mugnai, de Sury, Cosulich, Herald

Consult, and Line Holdings, through HAM, transmitted these payments via wire to APM

Cayman, MediciFinanz, and Kastner. See id. at 81-82, ¶ 18.

- 97 -

316. Kastner, through APM Cayman, also received $780,047 from Infovaleur.

Even within the structure of the Medici Enterprise, this personal payment from Kohn to

one of her Bank Medici branches was unusual. It was not, however, the only personal

payment that Kohn made to Kastner. See id. at 65-68, ¶ 11.

317. Kastner also owns Gerila, through which Kastner received a loan of

almost $1 million from Kohn, which was transferred to Kastner using HAM’s accounts.

On information and belief, this transfer was a personal loan from Kohn to Kastner in

connection with his divorce. Kohn, Mugnai, de Sury, Cosulich, Herald Consult, and Line

Holdings, through HAM, transmitted these payments via wire to Kastner. See id. at 87-

88, ¶ 24.

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