According to a press release an investigation on behalf of investors, who lost millions in the long-running Ponzi scheme at Bernard Madoff Investment Securities, concerning the actions of Austin Capital Management, Ltd.

According to the press release the investigation by the law firm concerns the legal rights of investors who suffered a loss by entrusting their money directly or indirectly to Austin Capital Management, Ltd., which in turn invested funds in the Tremont Rye Select Broad Market Fund. The Rye Fund was invested substantially with Madoff. Preliminary reports suggest, so the investigation, that Austin Capital Management, Ltd. knew or should have known Madoff was engaged in wrongdoing based on suspicious returns and other signals of misconduct, but that they ignored these red flags.