Madoff Feeder Fund Sues 5 Cos. To Recoup $18M

Law360, New York (August 18, 2011, 5:19 PM EDT) -- Bankrupt Fairfield Sentry Ltd., once the largest feeder fund to Bernard L. Madoff's securities firm, launched five adversary suits Wednesday in New York seeking to recover more than $18 million in shareholder distributions related to Madoff's Ponzi scheme.

In the suits, Fairfield, which has been ordered to return $3 billion to the victims of Madoff's fraud, targets investors in Fairfield Sigma Ltd., an offshore euro currency fund in the British Virgin Islands that was heavily invested in Fairfield Sentry.

Fairfield Sigma is requesting that Bahamas-based Deltec...
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