Galvin said that Madoff coached the Connecticut based company on how to answer federal investigator's questions about their investment practices, and how much they really knew about Madoff's operations.

The secretary of state said that in 2005 Madoff helped Walter Noel, founder of Fairfield Greenwich Group, with how to respond to questions from the SEC attorneys, who were exploring fraud investigator, Harry Markopolos' concerns about Madoff.

According to reports, when the SEC reported that Madoff did not commit fraud it 2007, they did it based on information they received from Fairfield Greenwich Group.

Galvin said that in April 2008, Walter Noel knew of the risks that were involved with investing with Madoff, but didn't disclose it with investors.

Walter Noel invested more than 95 percent of its Sentry Funds' $7.2 billion in assets in Bernard L. Madoff Investment Securities.

Galvin calls for an administrative fine and return of performance fee paid to Fairfield Greenwich by Massachusetts investors.

Alleged crook Noel, received a fee of one percent of assets under management for what was invested in Sentry Funds, plus 20 percent performance fee, which added up to $100 million from 2006 to 2008, based on the funds returns.


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