A SPANISH company has asked the Commercial Court to order an Irish-registered investment fund to pay out €3.24 million it claims it was due but which it says was stopped following the discovery of Bernard Madoff’s multi-billion dollar fraud activities.

A fund manager who lost more than $1bn (€715m) of his clients’ money to Bernard Madoff committed suicide at his Manhattan office.

Fallen US financier Bernard Madoff was today forced into the humiliation of wearing an electronic tag as part of his bail conditions.