Fairfield sues alleged Madoff accomplices

Lawyers for the Town of Fairfield say the town has filed the nation's first lawsuit aimed at freezing assets of Connecticut firms that funneled billions to Bernie Madoff's Ponzi scheme, which lifted $42

News 12 Staff

Mar 31, 2009, 10:48 PM

Updated 5,497 days ago

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Fairfield sues alleged Madoff accomplices
Lawyers for the Town of Fairfield say the town has filed the nation's first lawsuit aimed at freezing assets of Connecticut firms that funneled billions to Bernie Madoff's Ponzi scheme, which lifted $42 million from the town's employee pension plans.
If successful, the suit would place Connecticut at the front of the line to seize assets within the state, including Madoff's sons' homes in Greenwich.
David Golub, the attorney for Fairfield, said the town and its pension funds are suing 16 more defendants including Madoff and some of his alleged feeder companies in Connecticut, companies Golub claims to have proven liable.
Regardless of the case's outcome, the town plans to restore pension funds to the $300 million held prior to the fraud.
On Monday, a Bridgeport judge issued a temporary restraining order stopping the Madoffs and other defendants from selling any Connecticut assets. The judge will hear more of the case in two weeks.


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