Friday, December 12, 2008

Bloomberg: Madoff ‘Big Lie’ Hits Fairfield Sentry, Kingate Funds


The biggest hit on the "Ponzi" Madoff scheme is Fairfield Greenwich Group who invested over $7 billion dollars into the Madoff firm. This is the first report of enormous losses by the inept Madoff firm. Surely more big names are to come.

The biggest loser may be Walter Noel’s Fairfield Greenwich Group, whose $7.3 billion Fairfield Sentry Ltd. invested with Madoff’s eponymous firm, three people familiar with the matter said. Another was Kingate Management Ltd., whose $2.8 billion Kingate Global Fund Ltd. invested with Madoff, they said.

For more information, please click here.

No comments:

Post a Comment