Madoff Investors Settle For $80.3M Against Fund Managers

Law360, New York (November 6, 2012, 8:38 PM EST) -- Fairfield Greenwich Group, a prominent controller of feeder funds to imprisoned Ponzi schemer Bernie Madoff, and others on Tuesday settled their part in a class action for as much as $80.3 million, brought by investors who claim the company and others misrepresented their investments in Madoff's scam.

Under the terms of the deal, which still must be approved by a New York federal judge, FGG founder Walter Noel and others connected to the investment firm will fund the settlement, which will pay out just over $50...
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