Bloomberg – Fairfield Greenwich Group, the hedge fund that lost $7 billion invested with Bernard Madoff, accused a Massachusetts regulator of “factual distortions” and told a judge that it closely monitored its investment.

The firm said yesterday it filed court papers challenging an April 1 administrative complaint by Massachusetts Secretary of the Commonwealth William Galvin, who claimed Fairfield Greenwich defrauded investors by misrepresenting what it knew about Madoff’s business. The filing is the firm’s most extensive statement to date about how it monitored its Madoff investment.

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Tags: administrative complaint, april 1, bernard madoff, bloomberg, distortions, fairfield greenwich group, investors, massachusetts-secretary-of-the-commonwealth, secretary-of-the-commonwealth, william-galvin

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