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SUNDAY, NOVEMBER 22, 2009
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Madoff Money Man Steps Down

Cuomo pushes Merkin out

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(Newser) – Thanks to some strong arming from Andrew Cuomo, financier J. Ezra Merkin is stepping down as manager of his hedge fund and placing it into receivership, the Wall Street Journal reports. Cuomo charged Merkin in a civil fraud complaint last month, saying he “betrayed hundreds of investors,” by pumping $2.4 billion into Bernie Madoff’s Ponzi scheme. Merkin allegedly told his investors, mostly nonprofit groups and universities, that he was managing the money himself.

In this Thursday, Dec. 11, 2008 file photo, New York Attorney General Andrew Cuomo speaks during a news conference in Albany.
In this Thursday, Dec. 11, 2008 file photo, New York Attorney General Andrew Cuomo speaks during a news conference in Albany.   (AP Photo/Mike Groll)
In this Jan. 4, 2006 file photo, J. Ezra Merkin, managing partner of Gabriel Capital Group, seen during a ceremony in Jerusalem, Israel.
In this Jan. 4, 2006 file photo, J. Ezra Merkin, managing partner of Gabriel Capital Group, seen during a ceremony in Jerusalem, Israel.   (AP Photo/Eliana Aponte, Pool,File)
New York Attorney General Andrew Cuomo makes an announcement in this file photo.
New York Attorney General Andrew Cuomo makes an announcement in this file photo.   (AP Photo/Louis Lanzano, File)
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tameesha_sharpton
May 19, 09 12:25 PM CDT
just another thieving jooo Reply
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SPH
May 20, 09 8:36 PM CDT
You are an ass.....
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AnnieChrist
May 19, 09 12:50 PM CDT
And a big Seig Heil to you, you narrow minded, bigoted moron. Reply
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hedge fund • Andrew Cuomo • Ponzi scheme • New York Attorney General • Bernard Madoff • Ezra Merkin

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