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Line 163: On January 15, 2009, the website Swissinfo.ch reported that French wealth management group [[Oddo et Cie]] sued UBS on January 14, 2009 in court in [[Luxembourg]] for [[Euro sign\|€]] 30 million over loss of investment due to alleged UBS exposure to the [[Bernard Madoff]] hedge funds.<ref>[http://ubs-news.newslib.com/story/7064-20075/ "UBS Sued by Oddo et Cie Over Alleged Madoff Connection", Swissinfo.ch website (January 15, 2009)]</ref> On January 20, 2009, French prosecutors opened an investigation into French citizens and institutions who claim losses due to Madoff. One part of the investigation is over the AlphaLux fund set up by UBS AG, which counters that the bank set up a [[Luxembourg]]-based fund at the request of investors, but that Madoff was never on UBS's list of preferred investments.<ref>[http://news.yahoo.com/s/nm/20090120/ts_nm/us_france_madoff;_ylt=AmL7JUJu0inJEvaigUn9t3J34T0D "French Prosecutors Open Investigation of Madoff", Reuters via Yahoo News (January 20, 2009)]</ref> == References ==