Madoff Feeder Fund Sues Citi Unit, Others For $143M

Law360, New York (October 14, 2011, 4:51 PM EDT) -- Madoff feeder fund Fairfield Sentry Ltd. filed three suits in New York bankruptcy court on Thursday seeking to recoup more than $143.5 million in payments made to a Citigroup Inc. unit and others.

Fairfield says that it is entitled to $130 million in redemption payments made to Citigroup Global Markets Ltd., $10.3 million paid to Fullerton Capital PTE Ltd. and $3.2 million received by BankMed (Suisse) SA.

Funds paid out to the companies were “misused and misappropriated by [Bernard] Madoff as part of his Ponzi scheme,”...
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