Luxembourg Regulator Seeks Liquidation Of LuxAlpha Hedge Fund

Authorities in Luxembourg announced plans to liquidate a Bernard Madoff-scarred hedge fund whose CEO was found dead, an apparent suicide, in December.

The Commission de Surveillance du Secteur Financier said yesterday that it would ask a court to liquidate Access International Advisors’ LuxAlpha Sicav-American Selection Fund. The hedge fund had all of its US$1.4 billion invested with Bernard L. Madoff Investment Securities, which authorities say was a US$50 billion Ponzi scheme.