State Banks Committee To Hold Forum On Madoff Scandal

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State Banks Committee To Hold Forum On Madoff Scandal
The Hartford Courant
7:38 AM EST, February 27, 2009
The state legislature's banks committee is holding a forum today on the impact of the $50 billion Madoff scandal on Connecticut's residents, municipalities and businesses.

Speakers will include the first selectman of Fairfield, which heavily invested its pension fund in Madoff, Dr. Henry Backe of the Orthopedic Specialty Group, which invested its employees' retirement savings in Madoff funds, and Attorney General Richard Blumenthal. Defamed New York investor Bernard L. Madoff is accused of running a Ponzi scheme that left scores of nonprofit organizations, family trusts and private investors out of millions of dollars.

Private investors in Fairfield County were particularly hard-hit by the scandal.

The invitational forum will begin at 1 p.m. in Room 2B in the Legislative Office Building in Hartford.