Thomas H. Lee Partners, a private-equity firm that has a 40 percent stake in failed brokerage firm Refco Inc., has sued three former Refco executives looking to recover $245 million in losses.

The suit was filed in federal court in Manhattan against former chief executive Phillip R. Bennett, former chief executive and president Santo C. Maggio and former president Tone Grant. The suit accuses the men of failing to disclose bad debts as part of a massive accounting fraud.

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