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Fairfield Greenwich Group, based in Greenwich, Connecticut, had a "Fairfield Sentry" fund which was one of many feeder funds that gave investors portals to Madoff. Fairfield, in turn, set up further feeder funds such as "Lion Fairfield Capital Management" in Singapore and "Stellar US Absolute Return", all conduits to Madoff, directing a total ...
Fairfield Greenwich was a defendant in a class action seeking to recoup losses resulting from Fairfield Greenwich funds' investments with Bernard L. Madoff Investment Securities. [29] The class action was a result of the consolidation of multiple cases filed in federal and state court against Fairfield Greenwich. [30]
Madoff's firm had two basic units: a stock brokerage and an asset management business; the Ponzi scheme was centered in the asset management business. Madoff founded a penny stock brokerage in 1960, which eventually grew into Bernard L. Madoff Investment Securities. [6] He served as the company's chairman until his arrest on December 11, 2008.
Ruth Madoff currently lives in a 4,000 square foot waterfront home in Old Greenwich, Connecticut, which is owned by her daughter-in-law, Susan Elkin (the first wife of Mark Madoff), the Post says ...
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Some of Madoff’s victims have also received compensation through Irving Picard, a court-appointed trustee in the Madoff case, who has distributed almost $14 billion to former Madoff customers.