Oh Goody Gumdrops, a state judge in Connecticut has finally gotten around to freezing everything in sight related to Madoff and the feeder funds who loved him.
From Dealbook (NYT):
A state judge in Connecticut has slapped a temporary asset freeze on the managers of three large hedge funds that invested their clients’ money with Bernard L. Madoff…
The judge acted at the request of several municipal pension funds in Fairfield, Conn., which sued these so-called “feeder funds” on Monday, contending that the funds’ managers knew all along that Mr. Madoff was committing a crime — even though they were wrong about which crime he was committing.
The defendants include the Fairfield Greenwich Group, run by Walter M. Noel, which steered more than $7 billion to Mr. Madoff before his team collapsed. Also named were Tremont Partners and Maxam Capital Management.
Bernie’s brother Peter Madoff, in related news, has not been able to un-freeze his stuff. If you listen closely, you can hear my tiny violin playing for the World’s Greatest Compliance Officer.
Full Story: Freezing Madoff Assets (NYT)
Read Also: Were the Feeder Funds Guilty