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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Abu Dhabi Authority sued by Madoff Trustee

Posted on 12 August 2011

Irving PicardThe liquidator for Bernard L. Madoff’s firm sued the Abu Dhabi Investment Authority, seeking to recover $300 million for victims of the confidence man’s Ponzi scheme.
Irving Picard, the Madoff firm’s trustee, said the sovereign wealth fund withdrew the money from Fairfield Sentry, a so-called feeder fund to Madoff’s fraud, in a complaint filed today in U.S. Bankruptcy Court in Manhattan……………………………………….Full Article: Source

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