Bloomberg News

Madoff Feeder Fund Seeks $919 Million From Fairfield Greenwich

November 03, 2011

Oct. 28 (Bloomberg) -- Fairfield Sentry Ltd., which describes itself as the largest victim of Bernard Madoff’s Ponzi scheme, is seeking to recover $919 million in fees from its former investment manager, Fairfield Greenwich Ltd., according to a court filing.

The fund, which is being liquidated in the British Virgin Islands, said in an amended complaint yesterday that the fees were paid “based on the supposed existence of billions of dollars of assets under management owned by the fund as shown on account statements issued by Bernard L. Madoff Investment Securities LLC.”

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

To contact the editor responsible for this story: Andrew Dunn at adunn8@bloomberg.net


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