Galvin identifies new Madoff victims

By Beth Healy, Globe Staff

Massachusetts Secretary of State William Galvin said his office has identified three more Madoff victims, who gained access to the convicted swindler's firm through hedge funds, including Fairfield Greenwich Advisors.

Fairfield is a New York firm that lost $7 billion to Madoff. The state has charged it with fraud for failing to protect about a dozen Massachusetts investors -- charges that Fairfield denies.

The firm earlier this month offered to settle the case for about $6 million, but the state said it was still looking for victims and intends to hold hearings Sept. 9.

Galvin said in an interview: "We still think there are more. We're just trying to establish who's out there before we go forward."