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T.H. Lee Hit With Fraud Suit From Refco Trustee

Law360 (August 9, 2007, 12:00 AM EDT) -- In the aftermath of Refco Inc.'s implosion, the company's trustee has sued private equity firm Thomas H. Lee Partners LP for over $275 million for its alleged role in the rampant fraud that knocked Refco into bankruptcy.

The suit, filed on Wednesday in the Manhattan district court, accused the equity firm, its head and several of its directors of negligence, unjust enrichment, breach of fiduciary duty and a general involvement in the fraud.

According to the complaint, the defendants knew more about Refco's checkered background than...
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