Anwar, et al., vs. Fairfield Greenwich Ltd, et al. re: Bernie Madoff
Professional Negligence, Investor Fraud
Firm was retained by Counsel, namely Boies, Schiller & Flaxner, LLP on behalf of the plaintiffs in a matter known as ‘Anwar, et al., Plaintiffs vs. Fairfield Greenwich Ltd, et al., Defendants’ where the subject matter is Bernie Madoff and his Ponzi scheme. The engagement was as a testifying expert on forensic accounting matters in the Anwar class action. Lindquist issued a “Rebuttal Expert Report” to opine on issues raised in three “Expert Reports” that essentially expressed the opinion that the defendants could not have “uncovered the Madoff Ponzi scheme because it was so sophisticated and impenetrable that even an investigation focused on fraud could not have discovered it”.
In November 2015 a $125 million settlement was reported with the hedge fund administrator Citco Group and in May 2016 a $55 million settlement was reported with PricewaterhouseCoopers, the auditor of the feeder fund Fairfield Greenwich who had previously settled for an amount of $80.3 million.