BNP Paribas is accused of failing to protect clients’ investments by advising them to stay with a hedge fund that turned out to be a feeder fund for Madoff’s $65 billion Ponzi scheme, the world’s largest uncovered to date.
The lawsuit filed Oct. 26 in Miami-Dade Circuit Court claims the three lost a combined $2.65 million as indirect Madoff investors in the doomed Fairfield Sentry fund. They had no place in bankruptcy court with direct creditors and weren’t eligible to receive any of the recovered funds.
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