Topic: Ascot Partners
A federal judge blocked the trustee seeking money for Bernard Madoff's victims from interfering with New York state's $410 million settlement with Ezra Merkin, a Wall Street hedge fund manager accused of steering client money to the swindler. The settlement calls for Merkin to pay $405 million to investors over three years, and $5 million to New York State to cover fees and costs.
Bernard Madoff investment scam victims will get $405 million settlement payout from hedge fund manager J. Ezra Merkin. Additionally, New York state will get $5 million to cover the cost of the settlement for the Bernard Madoff victims.
Angry investors blame US regulators for one of the investment world's biggest scandals.
12/17/2008 12:00 am