John Hancock Life, Others Sued Over $15M Lost To Madoff

Law360, New York (October 13, 2011, 2:20 PM EDT) -- John Hancock Life Insurance Co. and other insurers were accused in a lawsuit filed in New York state Wednesday of losing about $15 million through investments they made in Bernard Madoff's $65 billion Ponzi scheme.

The plaintiff, SSR II LLC, accused John Hancock Life Insurance Co., members of the MassMutual Financial Group and others of squandering its life insurance policies by pouring money into Madoff feeder funds run by Tremont Group Holdings Inc., according to the lawsuit.

"These defendants knowingly, recklessly, with gross negligence, and/or in...
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