Madoff Feeder Sues Abu Dhabi Fund For $300M

Law360, New York (April 4, 2011, 9:11 PM EDT) -- Fairfield Sentry Ltd., the largest feeder fund implicated in Bernard L. Madoff’s Ponzi scheme, lodged a suit in New York on Monday seeking to claw back $300 million in redemption payments made during the fraud to Abu Dhabi’s state-owned investment fund.

The money used to redeem Abu Dhabi Investment Authority’s shares in Sentry were — unbeknownst to Sentry — the misappropriated assets of other Madoff investors, and must be recovered in order for the feeder fund to satisfy its own liabilities stemming from the Ponzi scheme,...
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