Fairfield gets order barring sale of Madoff assets
(AP) - A Connecticut judge is prohibitingdisgraced financier Bernard Madoff, his family and businessexecutives from selling assets in order to secure millions ofdollars for a town seeking to recoup lost
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Mar 31, 2009, 2:03 PM
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Updated 5,826 days ago
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(AP) - A Connecticut judge is prohibitingdisgraced financier Bernard Madoff, his family and businessexecutives from selling assets in order to secure millions ofdollars for a town seeking to recoup lost pension funds.
Bridgeport Superior Court Judge Arthur Hiller granted the townof Fairfield's motion for a temporary restraining order Monday andset a hearing for April 13 to consider a permanent order.
Fairfield's $42 million in pension fund investments with Madoffwas lost when Madoff's multibillion-dollar Ponzi scheme collapsed.
The restraining order covers real estate, personal property andfinancial accounts of Madoff, his relatives and executives withFairfield Greenwich Group, Maxam Capital and other firms thatallegedly fed Madoff's fund.
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