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Madoff buddy, Ezra Merkin, sued over plunder from Ponzi scheme

New York Daily News – Ezra Merkin should have known better, a lawsuit claims.

The Park Avenue hedge fund king funneled investments to Bernie Madoff and received millions in fees Merkin knew were the spoils of a massive Ponzi scheme, a lawsuit filed Thursday claims.

U.S. Bankruptcy Court trustee Irving Picard sued Merkin to recover the $557.8 million Merkin and his Gabriel Capital Corp. have withdrawn from Madoff’s firm since 1995.

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