The US town of Fairfield Connecticut filed a lawsuit against Bernard Madoff to recoup some of its 42 million Dollar loss in pension funds. Connecticut Superior Court Judge Arthur Hiller filed an order Monday 13 April to secure 25 million in cash escrow accounts and properties owned by Madoff’s relatives and business partners. According to the town’s lawyer, Fairfield is the first party suing Madoff to obtain orders securing pledges of cash or property. Reuters, Connecticut Post
Posted by Jillian Hudson on 14 April 2009 at 9:46 | permalink
This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.
News story, GenevaLunch, 14 April 2009.
Filed under: World news
Tags: Bernard Madoff, Connecticut, escrow, Fairfield, investment, law suit, pension funds, properties, U.S.
We are happy to have your comments, which are approved before they appear: please remember to be courteous and brief. We accept only comments directly related to an article. We do not accept comment spam - messages sent to more than one site. We do not publish comments if the e-mail address is not legitimate. Thank you!