New York Attorney General Andrew Cuomo has launched a two-pronged probe of a prominent New York financier who invested the money of universities and charities with Bernard H. Madoff, who allegedly operated a massive Ponzi scheme. Cuomo's probe of J. Ezra Merkin could take on added importance from a decision argued last Friday before the 2nd Circuit, which, if affirmed, could make it more difficult to bring private lawsuits against "feeder" funds such as the three managed by Merkin, Ascot, Ariel and Gabriel.
N.Y. Attorney General Probes Placement of Investments With Madoff
New York Law Journal
January 22, 2009