New York Post – The founders of a New York hedge fund at the center of the Bernard Madoff scandal have begun selling assets as their firm faces massive losses and a slew of lawsuits, sources told The Post.

Walter Noel and Jeffrey Tucker, co-founders of Fairfield Greenwich Group, a New York hedge fund that lost a whopping $7.5 billion to Madoff’s alleged Ponzi scheme, have been forced to curb their lavish lifestyles amid mounting doubts that the firm can survive the firestorm.

The pair recently dumped a shared interest in a Cessna 560XL private jet, according to a person close to the firm.

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Telegraph.co.uk – Mr Cameron said that his shadow chancellor George Osborne had explained "very clearly" all the meetings and conversations he had had about a possible £50,000 donation from Oleg Deripaska and called on Mr Mandelson to produce a similar list of encounters.

Mr Osborne has been left fighting for his political life after the revelation that he discussed a substantial donation to the Conservative Party from Mr Deripaska following four meetings between him and the aluminium tycoon, who is banned from the US, in Corfu.

Nat Rothschild, a hedge fund tycoon who was host to Mr Osborne at his family’s villa on the island, alleged that Mr Deripaska offered to donate money to the Tories despite not being eligible to vote in this country.

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