Madoff NY trustee sues fund manager

May 8, 2009 02:10


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

The New York trustee overseeing the liquidation of Bernard Madoff's assets has sued a hedge fund manager who fed investments to the disgraced financier. The complaint filed in bankruptcy court on Thursday claims J. Ezra Merkin and his hedge funds should have known Madoff was involved in a giant pyramid scheme. The trustee is seeking more than $500 million in phony principal he says Merkin withdrew from Madoff's investment firm. The money would go to jilted investors. Madoff pleaded guilty in March to charges his secretive investment advisory operation was a fraud. He faces up to 150 years in prison. Merkin's lawyer said he would fight the suit.

Related Content

A neo Nazi attends a rally in Budapest October 23, 2009
August 16, 2018
Neo-Nazi yelled at by his dad during interview