Related: Madoff's Brother
Slow Saturday Special: An Editorial Insult
All in the Family
"Judge loosens freeze on Madoff brother's assets" by Bloomberg News | April 4, 2009
NEW YORK - A New York judge loosened a freeze on the assets of Peter Madoff, brother of convicted swindler Bernard Madoff, allowing him $10,000 a month for expenses in addition to his mortgage, taxes, and attorney fees.
State Supreme Court Justice Stephen Bucaria, who froze all of Peter Madoff's assets on March 25, yesterday approved an order adopting the terms of a voluntary freeze Madoff agreed to with US prosecutors in December. Bucaria's original order stemmed from a lawsuit filed by Andrew Samuels, 22, a law student who is seeking $2 million in damages, claiming he lost $470,000 of his inheritance by investing with Bernard Madoff.
"Today is a very small step toward trying to get a little bit of justice for one Madoff victim," Stephen Schlesinger, a lawyer for Samuels, said. "Now it's going to be a race between me and the federal government if they decide to go after Peter Madoff's money.
More "BULL" on Bernie from the MSM:
Authorities in France yesterday chained up Bernard Madoff's $7 million yacht at the request of a French investment firm. (Lionel Cironneau/Associated Press)
"Fund manager with Madoff ties sued; N.Y. says Merkin misled his clients" by Associated Press | April 7, 2009
NEW YORK - New York's attorney general filed civil fraud charges yesterday against a hedge fund manager saying the manager funneled $2.4 billion to Wall Street swindler Bernard Madoff without telling clients where their money was going.
The complaint accuses J. Ezra Merkin, the former chairman of GMAC Financial Services, of concealing his links to Madoff and lying to investors about what he was doing with their money, telling most he was personally investing their cash in things like distressed debt.
Related: Madoff, Mossad and the AmeriKan MSM
A MSM Accounting of Madoff Swindle
What Can GMAC Do to Put You in This Vehicle Today?
Over the years, Merkin collected $470 million in fees and performance bonuses from his clients, the suit said. It said many of those customers, which included several large charities and colleges, had no idea where their money really was until December, when Madoff was arrested.
"Merkin duped individual investors, nonprofits, and charities into believing he was responsibly managing their investments, when in actuality he was dumping them into history's largest Ponzi scheme," Attorney General Andrew Cuomo said in a statement.
The complaint also accused Merkin of mingling his personal funds with the accounts of his management company, Gabriel Capital Group, and using some of the company's funds for personal purchases, including $91 million worth of artwork for his apartment.
Art again!
Merkin's attorney, Andrew Levander, called the lawsuit "hasty," "ill-conceived," and "without merit," and he denied that clients had been kept in the dark. "Contrary to the attorney general's allegation, investors in the Ascot Funds were well aware that the money was being invested with Madoff," Levander said in a statement.
He said Merkin had investigated and analyzed Madoff and his trading strategy before investing.
"Unfortunately," he wrote, "Mr. Merkin's due diligence, just like the detailed investigations performed by countless others, including regulators, was thwarted by the intricate, fraudulent scheme perpetrated by Madoff."
Yeah, whatever, Globe, AP, whomever:
The Boston Globe is a Mouthpiece For the Jewish Mafia
Also another of Madoff's assets has been seized. French authorities on the Cote d'Azur have chained up his $7 million yacht "Bull" at a port in the exclusive Mediterranean enclave of Cap d'Antibes.--more--"
