Ch. 11 Trustee Sues Citadel, Goldman Over Transfers

Law360, New York (December 5, 2008, 12:00 AM EST) -- The trustee for bankrupt investment company Sentinel Management Group Inc. has filed a lawsuit against hedge fund manager Citadel Investment Group LLC and Goldman Sachs & Co., alleging that the companies unfairly benefited from transfers made in a securities fraud cover-up scheme.

The allegations in the complaint, filed in the U.S. Bankruptcy Court for the Northern District of Illinois on Thursday, relate to a bulk transfer of securities from Sentinel to Citadel allegedly made by Sentinel insiders as part of a plan to cover up a...
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