openPR Logo
Press release

New York Law Firm Zwerling, Schachter & Zwerling, LLP Investigating “Feeder Funds” in Madoff Fraud Case

NEW YORK – The New York law firm of Zwerling, Schachter & Zwerling, LLP, has been retained by clients that have asked the firm to investigate so-called “feeder funds” that helped deliver billions of dollars to investment adviser Bernard L. Madoff before the recent collapse of his investment businesses.

Reports indicate Madoff has admitted to operating what amounted to a $50 billion Ponzi scheme.

Feeder funds, such as the Fairfield Sentry Fund, part of the Fairfield Greenwich Group, provided a pathway for individuals to deliver their money to Madoff. Fairfield Sentry reportedly had all of its $7.3 billion in assets with Madoff. Overall, Fairfield Greenwich had more than $14.1 billion in assets under management before Madoff’s business collapsed.

In addition to Fairfield, the firm believes there could have been dozens of other entities in the United States and overseas acting as Madoff feeder funds and collecting huge fees for their efforts.

“The question will be whether the Fairfield Sentry Fund and others like it basically functioned as enablers, and made a profit by creating an environment where Madoff was able to do what he did,” says Jeffrey Zwerling, a founding partner of Zwerling, Schachter & Zwerling.

Mr. Zwerling and his firm represent investment partnerships, individuals and companies that lost significant amounts of money in Madoff’s scheme. The firm will be taking a close look at third parties, such as Fairfield Greenwich and others that may have played a role in the scheme.

“We’re going to be very interested in feeder funds that made money by bringing Madoff the victims” says Robert S. Schachter a senior partner of the firm. “We have been contacted by victims in Mexico, Argentina, Austria, Spain, Switzerland and Ireland that delivered significant funds to Madoff through what we believe to be feeder funds in those countries.”

Zwerling, Schachter & Zwerling, LLP, currently is investigating the appropriate legal approaches available to its clients from firm offices in New York City, Garden City, N.Y., and Seattle. The investigation and any litigation that ensues will be undertaken on a contingent fee basis, meaning the firm’s clients will pay no legal fees unless there is a financial recovery. The firm currently plays a leading role in numerous major securities cases and complex commercial litigation matters pending in federal and state courts across the nation. The firm has been recognized by courts throughout the country as highly experienced and skilled in complex litigation, particularly with respect to federal securities class-action litigation.

For more information or to speak with Jeffrey Zwerling or Robert S. Schachter about the Madoff matter, please contact Mark Annick at 800-559-4534 (office), 214-213-1754 (mobile) or mark@androvett.com.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release New York Law Firm Zwerling, Schachter & Zwerling, LLP Investigating “Feeder Funds” in Madoff Fraud Case here

News-ID: 63449 • Views:

More Releases from Zwerling, Schachter & Zwerling, LLP

Appeals Court Clears Way for Century 21 Class-Action Lawsuit
TRENTON, N.J. – A class-action lawsuit filed by Century 21 franchisees against Century 21 Real Estate Corp. and parent company Cendant is moving forward following a decision of the New Jersey Appellate Division. In August, New Jersey Superior Court Judge Robert J. Brennan certified a class of current and former Century 21 franchisees in a lawsuit alleging breach of contract and other claims against their franchisor, Century 21 Real Estate Corp.,
Consumers Ask California Appellate Court to Reconsider Cipro Anticompetitive Rev …
Cipro users forced to overpay for medications because Bayer and Barr Laboratories agreed to keep generic equivalent from marketplace, filing states SAN DIEGO – Attorneys representing plaintiffs who overpaid for the antibiotic Cipro are asking a California appellate court to reverse a lower court ruling that set aside antitrust claims against Bayer Corporation. The case involves the agreement Bayer made with generic competitors to prevent competition and to maintain Cipro
New York Law Firm Zwerling, Schachter & Zwerling to Pursue Securities Fraud Clai …
NEW YORK – The New York law firm of Zwerling, Schachter & Zwerling, LLP, has been retained by clients to pursue potential claims of securities fraud involving Dallas-based Provident Royalties, LLC. On July 7, 2009, the U.S. Securities and Exchange Commission filed suit against Provident Royalties and its three principals alleging securities fraud. Paul "Russ" Melbye, Brendan Coughlin and Henry Harrison are accused of engaging in a classic Ponzi scheme
Securities Fraud Law Firm Zwerling, Schachter & Zwerling Representing Madoff Fra …
Attorney Robert S. Schachter says Bank Medici and Bank Austria Implicated in Madoff Fallout NEW YORK – An international probe by the law firm Zwerling, Schachter & Zwerling is focusing on whether major Austrian banks used financial funds in Europe to fraudulently funnel billions into Bernard L. Madoff’s bogus investment enterprises, resulting in billions in losses for European parties. The New York-based law firm already is working with nearly a dozen individuals,

All 5 Releases


More Releases for Madoff

Apache Mill Tailings USA, Inc. Issues Correction To Prior Unauthorized Press Rel …
Apache Mill Tailings USA, Inc. and 777 International Holdings, Inc. mutually determined that a March 18, 2020 press release submitted by former Apache Senior Director Lawrence Madoff, M.D., did not accurately represent the facts or the association between the two companies. Apache Mill Tailings USA Inc. hereby corrects the press release made by its senior director, Lawrence Madoff, M.D. regarding the beginning of clinical testing for a potential cure for
Feel The Pumpy Beats Of “Specialize” By Up And Coming Rapper Populer On Soun …
With the increasing popularity of hip hop and rap music, unnumbered wannabe artists are making gala appearance on SoundCloud with their composed track to earn popularity in the music industry. The encouraging factor about hip hop is that this vibrant genre has inspired numerous youths to turn their hobby into profession. Being one of the busiest and elaborate genres, it is not an easy task for newbie artists to get
The Southbourne Tax Group: Detecting Financial Statement Fraud
Looking back at Enron, perhaps the company best known for committing accounting fraud, you can see the many methods that were utilized in order to fraudulently improve the appearance of its financial statements. Through the use of off balance sheet special purpose vehicles the firm continued to hide its liabilities and inflate its earnings. In 1999, limited partnerships were created for the purpose of purchasing Enron shares as a mean
Moonblinx Gallery launches impressive Financial Crisis Calendar: Facing Future 2 …
Frankfurt, 09.02.2009. Moonblinx Gallery publishes its first Moonblinx Gallery Calendar 2009. Moonblinx Gallery has carefully selected upcoming positions in the art photography world which will sustain any financial turmoil and crisis. Planning for this unusual exhibition and calendar with the impressive title “Facing Future” started the day the financial crisis got transparent. The composition of works include works by Mario Schmolka on portraits with a protective charme , Alexander Babic
Securities Fraud Law Firm Zwerling, Schachter & Zwerling Representing Madoff Fra …
Attorney Robert S. Schachter says Bank Medici and Bank Austria Implicated in Madoff Fallout NEW YORK – An international probe by the law firm Zwerling, Schachter & Zwerling is focusing on whether major Austrian banks used financial funds in Europe to fraudulently funnel billions into Bernard L. Madoff’s bogus investment enterprises, resulting in billions in losses for European parties. The New York-based law firm already is working with nearly a dozen individuals,
Morrison, Brown, Argiz & Farra, LLP (MBAF) forms Task Force to assist investors …
Miami – December 26, 2008 – Morrison, Brown, Argiz & Farra, LLP (MBAF), the largest independent CPA firm in Florida and the 43rd in the nation, has formed a special task force to examine the income tax ramifications to clients and investors who participated directly or indirectly with Bernard Madoff entities. Members of the task force, comprised of a network of MBAF tax specialists, are working to assist clients and