Madoff Feeder Fund Blasts Mass. Fraud Claims

Law360, New York (April 30, 2009, 12:00 AM EDT) -- A hedge fund group that channeled $7 billion into Bernard L. Madoff's massive Ponzi scheme has hit back at claims by Massachusetts' securities regulator that the group knowingly defrauded investors, saying it performed due diligence.

In response to a complaint lodged April 1 by the Massachusetts Securities Division, Fairfield Greenwich Group said Wednesday it “thoroughly rejected” any allegations of fraud.

“The complaint here was rushed into existence and is so filled with errors and factual distortions as to completely misstate the conduct of the companies that...
To view the full article, register now.