"The charges, as reported on CNBC moments ago, do not accuse FGG of knowingly aiding the Ponzi scheme. Rather, they accuse FGG of misleading its investors about the level of diligence they did on Madoff. The firm had assured investors that it kept a close eye on Madoff, a promise that now seems highly doubtful in light of the professed ignorance of Madoff's scam."

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