Judge cuts back Madoff trustee lawsuit against hedge fund manager Merkin

Harretz – The trustee seeking money for Bernard Madoff’s victims suffered his second loss in less than a week to Wall Street hedge fund manager J. Ezra Merkin, as a Manhattan bankruptcy judge dismissed most claims in a roughly $565 million lawsuit.

Judge Stuart Bernstein said the trustee Irving Picard failed to show that Merkin knew Madoff was running a giant Ponzi scheme while his “feeder funds” were sending money to the swindler’s firm, Bernard L. Madoff Investment Securities LLC.

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