Merkin ‘Cooperative,’ N.Y. Attorney General Says

Feb 12 2009 | 3:05am ET

J. Ezra Merkin, the former GMAC Financial chairman who ran a stable of Bernard Madoff feeder hedge funds, is cooperating with New York state authorities, one said yesterday.

Attorney General Andrew Cuomo’s office said that “Merkin and his counsel have been cooperative thus far in providing documents and other information,” Reuters reports. Cuomo said last month that he would subpoena Merkin and his three funds, Gabriel Capital Corp., Ariel Fund and Ascot Partners, as part of an investigation into whether Merkin defrauded the non-profits that invested with him.

Despite his close ties to Madoff, accused of running a $50 billion Ponzi scheme, Merkin has painted himself as a victim of his friend’s scam. Still, his funds have been sued by angry investors who say he invested with Madoff without notifying them.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain Capital: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of