Maxam Fund sues auditors

Losses & Lawsuits

NEW YORK - One of the many hedge funds struck by Bernard Madoff's giant Ponzi scheme before Christmas has filed a lawsuit to recover its losses. Maxam Absolute Return Fund lost $280 million and is suing its auditors Goldstein Golub Kessler, and McGladrey & Pullen. The Connecticut-based fund relied on the external auditors to examine Madoff's enterprise and alleges that their 2006 and 2007 audits were negligent and "unqualified". Madoff's investment management empire turned out to be a $50 billion Pyramid scheme.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here