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Mass. Hedge Fund Victim Of Massive Ponzi Scheme

This article is more than 10 years old.

A hedge fund owned by the Massachusetts Mutual Life Insurance Company of Springfield is on the growing list of victims in the alleged decades-long Ponzi scheme run by a New York trader.

The hedge fund, Rye Investment, lost all of its clients' money, more than $3 billion, invested with the Ponzi chief Bernard Madoff.

Prosecutors say Madoff confessed last week.

This program aired on December 16, 2008. The audio for this program is not available.

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