A Bernard Madoff victim who lost $15 million is suing Goldman Sachs for allegedly failing to tell him in 2004 that he should pull his money out of the Madoff Fund. Retired businessman Jerome Goodman claims in his federal suit that "Goldman Sachs implemented an internal ban on investment with the Madoff Fund in or around 1999" but breached its fiduciary duty in its response to Goodman's request to diversify. Goodman's lawyer, who represents several Madoff victims, says he knows of no similar suits by Goldman Sachs customers.
March 18, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Note: This article has been modified since its original publication.
A Bernard Madoff victim who lost $15 million is suing Goldman Sachs for allegedly failing to tell him in 2004 that it had put a taboo on the Madoff Fund and that he should pull his money out.
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