Madoff Trustee Attacks Fairfield Hedge Funds

Law360, New York (July 21, 2010, 5:25 PM EDT) -- The trustee in charge of liquidating Bernard Madoff’s investment advisory firm has stepped up his suit against the Ponzi scheme’s major feeder funds, and is now gunning for the Fairfield Greenwich Group's numerous hedge funds as well as the professionals that allegedly helped carry out the largest financial fraud in history.

Trustee Irving J. Picard filed an amended complaint Monday in the U.S. Bankruptcy Court for the Southern District of New York, anatomizing the FGG organizaton that allegedly propelled the Ponzi scheme and adding 24 hedge...
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