Merkin settles Madoff-related suit with New York
NEW YORK - Money manager Ezra Merkin has agreed to pay $410 million to settle a lawsuit brought by the New York attorney general that accused Merkin of steering client money to Ponzi schemer Bernard Madoff, a person familiar with the settlement said on Sunday.
Found more than 1 month ago on channel Reuters
Bernie Madoff victims to recover $405 million in NY settlement
Hedge fund manager J. Ezra Merkin who invested his clients’ money in Bernard L. Madoff’s Ponzi scheme –– without his clients’ knowledge –– will pay more than $400 million under a settlement.