Times Online – Fairfield Greenwich, the hedge fund manager founded by socialite Walter Noel, became the first fund that invested with disgraced fund manager Bernard Madoff to be charged with fraud.

William Galvin, Massachusett’s Secretary of State, today accused the Connecticut-based fund of lying to investors about it due diligence it did on Madoff’s fund management business.

Fairfield Greenwich was one of the biggest feeder funds to Madoff, enabling the 70-year-old convicted swindler to rip off thousands of people in a $65 billion Ponzi scheme running for at least 20 years.

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Tags: connecticut, due diligence, fairfield greenwich, feeder, fraud, fund management business, hedge-fund-manager, investors, massachusett, secretary of state, swindler, walter noel, william-galvin