Politics & Regulation Tax & Legal

Fairfield Sentry liquidation prompts more lawsuits

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Fairfield Greenwich’s popular Madoff feeder fund is still causing consternation among investors as trustee Irving Picard seeks to pay back other victims of Bernard Madoff’s $65 billion Ponzi scheme.

The $627 billion Abu Dhabi Investment Authority, First Gulf, Lion Global Investors Limited and Orbita Capital Return Strategy are each defendants in pending suits seeking assets related to investments in Fairfield Sentry, believed to be the largest feeder fund into Madoff – offered by the Fairfield Greenwich Group that is currently in liquidation in the British Virgin Islands.

A consent decree in bankruptcy court in July ordered Fairfield Sentry