Judge will approve settlement in Madoff feeder fund case

Fairfield Greenwich Group investors will receive $80 million in the agreement

A federal judge said late last week that he will approve an $80.25 million class action settlement that will benefit those that invested in Fairfield Greenwich Group funds. Investors said Fairfield funneled money to Bernie Madoff, who is now serving a 150-year prison sentence for masterminding the world’s largest-ever Ponzi scheme.

According to their suit, Fairfield investors lost more than $1 billion in Madoff’s scheme. But Judge Victor Marrero said $80 million was fair because Fairfield’s founders’ assets mostly funded the accord.


Cathleen Flahardy

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