Ezra Merkin

5 Stories

Madoff's Money Man Sells Rothkos for $310M

Merkin unloads art, but buyer's identity a mystery

(Newser) - Ezra Merkin, the financier who pumped billions of his clients' money into Bernie Madoff's Ponzi scheme, is selling more than 10 paintings by Mark Rothko and two sculptures by Alberto Giacometti for $310 million, reports the Wall Street Journal. Some of the proceeds may go to his defrauded investors, who... More »

Madoff Money Man Steps Down

Cuomo pushes Merkin out

(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... More »

Madoff Victims' Advocate Sues Ezra Merkin

Trustee wants $558M back from feeder-fund withdrawals

(Newser) - The trustee representing investors who lost their savings with Bernie Madoff is suing Ezra Merkin, the feeder-fund manager who withdrew $558 million from Madoff's shop before the collapse of his Ponzi scheme. Irving Picard, who is responsible for winding down Madoff's defunct company, alleges that Merkin should have known from... More »

Cuomo Charges Madoff Feeder With Fraud

Says 'investment guru' Merkin was really just 'master marketer'

(Newser) - New York AG Andrew Cuomo has charged J. Ezra Merkin, a prominent New York philanthropist who funneled $2.4 billion into Bernie Madoff’s Ponzi scheme, with fraud, the Wall Street Journal reports. The complaint doesn’t accuse Merkin of knowing about the scheme. But it alleges that he lied... More »

NY Investigates Madoff Chum in Charity Losses

Nonprofits say Merkin invested millions without their knowledge

(Newser) - New York investigators widened their inquiry into Bernie Madoff's Ponzi scheme yesterday, as claims emerged that a middleman may have defrauded charities of millions of dollars. Money manager Ezra Merkin allegedly invested the money of 15 nonprofits in Madoff funds without their knowledge, reports the New York Daily News. New... More »

5 Stories