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Mass. Charges Feeder Fund In Madoff Scandal

This article is more than 11 years old.

Massachusetts regulators are charging a Connecticut investment firm with fraud for its ties to disgraced investment manager Bernard Madoff.

Secretary of State William Galvin alleges that Fairfield Greenwich Group helped Madoff hide information about his financial accounts.

Madoff has admitted to losing more than $50 billion from investors in a ponzi scheme.

Galvin is seeking restitution for Massachusetts investors.

For more on this story, and to see the state's evidence against Fairfield Greenwich, visit The Bottom Line blog.

This program aired on April 1, 2009. The audio for this program is not available.

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