DOL Can Subpoena Docs In $10M Madoff Scheme: 4th Circ.

Law360, New York (May 4, 2011, 8:37 PM EDT) -- The Fourth Circuit ruled Wednesday that the U.S. Department of Labor can subpoena privileged documents for an  Employee Retirement Income Security Act probe into the management of health and pension funds that lost $10 million in Bernard L. Madoff-related investments.

The appellate court affirmed a district court's order enforcing the DOL's subpoena, which requested documents relating to the administration of the two funds' assets over a 10-year span, including those in the Meridian Diversified ERISA Fund Ltd., which has been accused of being a Madoff feeder...
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