Prickett v. New York Life Insurance

*240 OPINION

THOMAS P. GRIESA, District Judge.

This case arises out of the Ponzi scheme perpetrated by Bernard L. Madoff and Bernard L. Madoff Investment Securities. Plaintiff F. Daniel Prickett is a holder of a variable universal life insurance policy issued by New York Life Insurance Company. The policy allowed plaintiff to select various tax free investments for New York Life to make on his behalf in certain “Separate Accounts” set up under the policy. At Prickett’s request, New York Life invested some of his premiums in the Tremont Fund, a hedge “fund of funds” operated by Tremont Partners,…