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In the News "Not Victims ... Enablers"

July 21, 2010

Picard's lawsuit alleges that "the Fairfield Greenwich affiliates and the individual defendants had 'actual and constructive knowledge' of Mr. Madoff's fraud and 'generally looked the other way' in the interest of profit."

So how did Fairfield Greenwich become involved in the largest ponzi scheme in American history? Chapter three of our report features the rise the company and two of its partners, Jeffrey Tucker and Walter Noel (pictured on our home page), who are both listed as defendants in Picard's suit [PDF]. Also learn more about heyday of Fairfield Greenwich from FRONTLINE's interview with Sherry Shameer Cohen, who worked at the company for 11 years. She tells correspondent Martin Smith: "I don't think that they knowingly tried to defraud anybody. However, as stories break, you realize that they knew something wasn't exactly right."

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