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Refco's Largest Shareholder Sues To Recover $245M

Law360 (November 14, 2005, 12:00 AM EST) -- Refco’s largest shareholder has filed a lawsuit against three former executives at the commodities and foreign exchange broker, seeking to recover $245 million that the firm claims vanished in a plot to hide losses.

Private equity firm Thomas H. Lee Partners, which owns more than 40% of the broker, brought the lawsuit in the U.S. District Court for the Southern District of New York against former Chief Executive Phillip R. Bennett, former Chief Executive and President Santo C. Maggio and former President Tone Grant.

Thomas H....
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