Attorney General Richard Blumenthal says he’s suing a Westport bank and an investment adviser who operated funds that helped Bernard Madoff’s investment fraud, the Associated Press reports.
Blumenthal said Monday he filed suit in state court on behalf of the state Department of Banking against Westport National Bank and PSCC Services Inc., a Westport pension consultant and its founder and owner Robert L. Silverman for $16 million.
Blumenthal said Westport National Bank, PSCC Services Inc. and Silverman violated Connecticut banking laws by ignoring repeated indications of fraud and miscalculated fees.
Madoff is serving a 150-year prison term.
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Messages were left seeking comment from the bank, PSCC and Silverman.
