Bernie Madoff has two investement funds in Ireland that received $380 million in false profits. The money has not been recovered.

U.S.-based Trustee Irving Pickard, who has been hired to track down the missing funds, told a New York Bankruptcy Court that the Dublin-based funds were used by Madoff to hide money he gained from his New York scams.

The two funds, which he did not name, were so-called "feeder funds." A company called Thema International Fund in Dublin has since had fifty claims filed against it in Ireland.

Thema, for its part, has sued HSBC Bank claiming the bank "failed as a custodian for monies it lost in Madoff's massive Ponzi or pyramid scheme."

Madoff, 71, is serving a 150-year sentence for running the world's largest Ponzi scheme, which defrauded investors out of billions of dollars.

Now, Packard has issues several subpoenas in connection with the Irish probe.

“The trustee is continuing to investigate these funds and related entities,” Picard said in the filing. Bloomberg News reported that Pickard has filed 14 lawsuits against various feeder funds, looking to win $15 billion in fake profits from the fraud.