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White Plains hedge funds sued in Madoff investment scandal

Lower Hudson Journal news – Four hedge funds are at the center of a federal class-action lawsuit accusing them of steering millions of dollars from investors to Bernard Madoff.

The lawsuit, filed in U.S. District Court in Manhattan, charges that Beacon Associates LLC I, Beacon Associates Management Corp., Beacon/Andover Group and Andover Associates LLC I were among a half-dozen companies that lost more than $15 million from investors by funnelling the money into Madoff’s failed brokerage firm.

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