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Hedge fund manager may sell farm after being stung by Madoff

Reuters – Many gamblers have been forced to sell financial assets to cover bets on horses, but it is less common for a lover of thoroughbreds to sell a farm because of bad bets on investments.

But that may be what is happening to the co-founder of hedge fund firm Fairfield Greenwich Group, which lost more than half of its assets in Bernard Madoff’s alleged $50 billion (34 billion pounds) fraud.

Hedge fund manager Jeffrey Tucker’s horse farms near the 146-year-old Saratoga Race Track about 180 miles (290 km) north of New York City could be going up for sale, according to a real estate broker.

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