From the WSJ: New York Attorney General Andrew Cuomo has issued subpoenas to former GMAC Financial Services Chairman J. Ezra Merkin, three of his funds and 15 nonprofits in his probe of alleged frauds on charities in the Bernard Madoff scandal. The attorney general’s office is seeking information from Mr. Merkin and his Gabriel Capital […]

J. Ezra Merkin has resigned his post as board chairman of GMAC after losing some $2.4 billion in Bernard Madoff’s Ponzi scheme. Merkin, who has not been implicated in the scheme, invested $1.8 billion others had invested in his own Ascot Partners hedge fund with Madoff, losing it all, as well as other money. From […]