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

ADIA ‘not accused of any wrongdoing’

Posted on 15 August 2011

A $300 million (Dh1.1 billion) lawsuit against the Abu Dhabi Investment Authority (ADIA) is one of more than 1,000 filed by Irving Picard, the trustee authorised to recover money for victims of Bernard Madoff’s Ponzi scheme.

They said it is virtually identical to a lawsuit filed against ADIA, one of the world’s largest sovereign wealth funds, in April by Fairfield Sentry, which was one of many so-called “feeder funds” that invested in Madoff……………………………………….Full Article: Source

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