{"id":11773,"date":"2009-09-09T07:43:54","date_gmt":"2009-09-09T11:43:54","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=11773"},"modified":"2009-09-09T07:47:28","modified_gmt":"2009-09-09T11:47:28","slug":"fairfield-settles-with-massachusetts-for-8-million","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2009\/fairfield-settles-with-massachusetts-for-8-million.html","title":{"rendered":"Fairfield settles with Massachusetts for $8 million"},"content":{"rendered":"<p>Pensions and Investments &#8211; Fairfield Greenwich agreed to pay about $8 million to settle charges leveled at the hedge fund-of-funds manager by William F. Galvin, Massachusetts secretary of the commonwealth, in connection with the Madoff Ponzi scheme.<\/p>\n<p>In settling, Fairfield Greenwich neither admitted nor denied the charges made in the Massachusetts\u2019 Securities Division\u2019s administrative complaint, which was filed April 1. Those charges alleged that the company failed to conduct due diligence on Bernard L. Madoff Investment Securities and later misrepresented its due diligence practices to investors in its hedge funds of funds, according to documents on Mr. Galvin\u2019s website. As part of the settlement agreement, Mr. Galvin\u2019s office dropped fraud charges that were included in the original complaint.<\/p>\n<p><strong><a title=\"Read Complete Article\" href=\"http:\/\/www.pionline.com\/apps\/pbcs.dll\/article?AID=\/20090908\/REG\/909089982\" target=\"_blank\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pensions and Investments &#8211; Fairfield Greenwich agreed to pay about $8 million to settle charges leveled at the hedge fund-of-funds manager by William F. Galvin, Massachusetts secretary of the commonwealth, in connection with the Madoff Ponzi scheme. In settling, Fairfield [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[5184,5867,7620,11708,4206],"class_list":["post-11773","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-due-diligence","tag-fraud-charges","tag-hedge-fund-of-funds","tag-hedge-funds","tag-investment-securities"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=11773"}],"version-history":[{"count":3,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11773\/revisions"}],"predecessor-version":[{"id":11775,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11773\/revisions\/11775"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=11773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=11773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=11773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}