US town suing scamster Madoff

A Connecticut town is suing disgraced financier Bernard Madoff, his family and investment companies because its pension board allegedly lost millions in Madoff's Ponzi scheme.

The lawsuit seeking $75 million was filed on Monday in Bridgeport Superior Court by the town of Fairfield and its pension board.

It names members of Madoff's family and Tremont Partners and Maxam Capital Management for failing to oversee Madoff's investments, and the founding partners of Fairfield Greenwich Group, which lost more than $7 billion in the scheme.