Investors Sue Fairfield Greenwich Group, Massachusetts Mutual Life Insurance, over Lack of Due Dilligence in Madoff Scheme
Among the casualties in the Bernie Madoff (BLM Capital) scheme are hedge fund Fairfield Greenwich Group and Massachusetts Mutual, the former of which is accused of failing "to manage properly their investments and to carry out necessary due diligence that would have uncovered the massive Ponzi scheme," by investors.
The lawsuit against Fairfield Greenwich Group was filed by Pasha Anwar and Julia Anwar of Illinois.
Massachusetts Mutual Life Insurance Company was sued in a separate case on Monday. The suit was filed by Arthur E. Lange of Connecticut and Arthur C. Lange of New York.
Also named in the suit against Massachusetts Mutual are Tremont Group Holdings and Oppenheimer Acquisition Corp.
Read the full article: