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MassMutual ignored red flag

Insurer bought firm partial to Madoff

The fund used one investment manager: Bernard Madoff. The fund used one investment manager: Bernard Madoff. (Stan Honda/ AFP/ Getty Images/ File 2009)
By Beth Healy
Globe Staff / May 5, 2009

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The insurance giant Massachusetts Mutual Life Insurance Co. of Springfield was warned in 2001 by a consultant that a hedge fund business it was about to buy was placing too much of its clients' money with just one investment manager: Bernard L. Madoff. (Full article: 1019 words)

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