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Merkin funds win dismissal of Madoff lawsuits

| From reuters.com
NEW YORK ( Reuters ) - Three hedge funds run by New York financier and philanthropist Ezra Merkin won dismissal of civil lawsuits accusing them of being part of swindler Bernard Madoff 's massive fraud. In an order dated Friday and made public on Monday, U.S. District Judge Deborah Batts in Manhattan threw out lawsuits alleging fraud and misrepresentation by the Ascot Fund, the Gabriel Fund and the Ariel Fund. "No misrepresentation was made when defendants relied on Madoff, as a third-party...Read Full Story

Merkin, Head of Madoff Feeder Fund, Hit With $7M Ruling

By toomuchnews on | From toomuchnews.com
By Chad Bray A New Jersey businessman and philanthropist has won a $7 million arbitration award against J. Ezra Merkin (pictured), a money manager who has been accused by investors of funneling more than $2 billion to convicted Ponzi scheme operator Bernard Madoff. An arbitration panel earlier this month awarded $7.01 million to Moshael Straus, representing his investment in Merkin’s Ascot Related posts: Bernie Madoff's Son Kills Himself On Anniversary Of His Father's Arrest Madoff...Read Full Story

Madoff investors win $12.74 mln in Merkin case

| From reuters.com
NEW YORK ( Reuters ) - Investors in Gabriel Capital LP , a so-called feeder fund that funneled money to imprisoned swindler Bernard Madoff , were awarded $12.74 million by a panel of three arbitrators, court records show. The award to two New Jersey investment funds was disclosed in a filing Thursday with the New York State Supreme Court in Manhattan . The funds asked the court to confirm the award against Gabriel, which was overseen by hedge fund manager Ezra Merkin . Andrew Levander , who...Read Full Story

J. Ezra Merkin, the financier who handed more than $2 billion of his clients' money over to Bernie Madoff

By Highplain on | From arrestsworldwide.blogspot.com
J. Ezra Merkin is accused of pouring $2.4 billion in client money into Bernard Madoff’s Ponzi scheme without investors’ permission. Cuomo’s complaint says Merkin paid himself $470 million in fees.Last December, after Madoff’s fraud was exposed, Tufts University reported its $20 million loss.The university made the investment in 2005 after its investment office recommended one of Merkin’s three hedge funds, university spokeswoman Kim Thurler said.The school has since determined that its...Read Full Story

Official: Madoff son found dead in NYC apartment

| From ap.org
A law enforcement official tells The Associated Press that a son of Bernard Madoff has been found dead in New York City of an apparent suicide. The official says Mark Madoff was found hanged in his Manhattan apartment. A family member notified police around 7:30 a.m. Saturday. The official spoke to the AP on the condition of anonymity because he wasn't allowed to speak publicly about the case. Mark Madoff and his brother, Andrew, were under investigation but hadn't faced any criminal charges...Read Full Story
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Madoff Feeder Funds Still Awaiting Distribution Approval
Feb. 1 (Bloomberg) -- Ezra Merkin’s bankrupt Ariel and Gabriel funds, so-called feeder funds for Bernard Madoff’s defunct money management firm, are still awaiting court approval for distribution, a liquidator said. Bart M. Schwartz ...  
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Ordered to pay greeting card king $2.3M
Fallen financier Ezra Merkin just saw his bill for losses tied to Ponzi schemer Bernie Madoff grow by nearly $2.3 million. Merkin, the New York financier who funneled more than $2 billion to Madoff’s scheme through his “feeder” funds, was ordered by ...  
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