{"id":1696,"date":"2015-08-24T19:21:36","date_gmt":"2015-08-24T19:21:36","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/08\/citco_settles_madoffrelated_se"},"modified":"2022-03-22T14:26:33","modified_gmt":"2022-03-22T19:26:33","slug":"citco-settles-madoffrelated-se","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/citco-settles-madoffrelated-se\/","title":{"rendered":"Citco Settles Madoff-Related Securities Case With Fairfield Investors for $125M"},"content":{"rendered":"

\t\t\t\tCitco Group Ltd. has agreed to pay $125 million to resolve a lawsuit related to the Bernard Madoff Ponzi Scheme. The plaintiffs in the case are investors of Fairfield Greenwich Ltd.<\/p>\n

Investors in Fairfield’s funds sued Citco Group and others after Madoff was arrested in 2008 for running a multibillion-dollar Ponzi scam. Citco was a defendant because it was retained by Fairfield to monitor assets, as well as Madoff’s trading activities. The plaintiffs argued that Citco owed them a duty of care. <\/p>\n

By settling, Citco is not denying or admitting to wrongdoing. It said that it consented to resolve the case to avoid further litigation. <\/p>\n

The $125 million investor settlement is one of the largest with an administrator or custodian of a Madoff feeder fund. Fairfield placed about $7 billion with Bernard L. Madoff Investment Securities LLC.
\n Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Citco Group Ltd. has agreed to pay $125 million to resolve a lawsuit related to the Bernard Madoff Ponzi Scheme. The plaintiffs in the case are investors of Fairfield Greenwich Ltd. Investors in Fairfield’s funds sued Citco Group and others after Madoff was arrested in 2008 for running a multibillion-dollar Ponzi scam. Citco was a […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3886],"tags":[],"class_list":["post-1696","post","type-post","status-publish","format-standard","hentry","category-madoff-ponzi-scheme"],"yoast_head":"\nCitco Settles Madoff-Related Securities Case With Fairfield Investors for $125M — Investor Lawyers Blog — August 24, 2015<\/title>\n<meta name=\"description\" content=\"Citco Group Ltd. has agreed to pay $125 million to resolve a lawsuit related to the Bernard Madoff Ponzi Scheme. 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