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Echo of Madoff Ponzi: Account holders file lawsuit over Connecticut Bank

July 9, 2009 - 9:51am | Fraud | News
Echo of Madoff Ponzi: Account holders file lawsuit over Connecticut Bank

The holders of more than two dozen retirement accounts have taken the Westport National Bank to Connecticut Superior Court in Stamford for its role in handling their investments in Bernard L. Madoff’s long-running Ponzi scheme. The lawsuit seeks to recover $60 million that the retirement plans lost when the Madoff fraud collapsed in December, as well as millions of dollars in fees that the bank charged customers who maintained the accounts.


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