Reuters – The trustee seeking money for victims of Bernard Madoff is trying to block a $410 million settlement resolving New York state’s claims against a hedge fund manager accused of secretly steering client money to the swindler.
Irving Picard, the trustee, said on Wednesday [Aug. 1] that the settlement with financier Ezra Merkin interferes with his exclusive right to seek money for former customers of Bernard L. Madoff Investment Securities LLC. The pact also reduces the assets available to recover, the trustee said.
