Investors win right for Irish bank worker to give evidence

A group of investors suing in the US courts over losses they claimed were caused following the collapse of Bernard Madoff’s investment companies have got the go-ahead of the High Court to have an Irish bank employee give evidence in their action.

A court in New York was yesterday granted permission to take evidence from a witness in a case brought over the alleged negligent operation and management of Optimal Strategic US Equity Ltd Fund, which is based in the Bahamas.

The investors claim their money was invested by the fund with Bernard L Madoff Investment Services LLC. Their money disappeared after Madoff was exposed as running a ponzi scheme.