TALKING BIZ NEWS EXCLUSIVE
Fox Business Network has won a legal victory to force the release of documents related to New York University’s lawsuit against Bernard Madoff feeder Ezra Merkin.
The parties have 10 to14 days to unseal the documents or show cause why they should remain under seal. The judge, RIchard Lowe, said that argument faces an “uphill battle.”
Madoff pleaded guilty on Thursday to 11 felony counts for orchestrating a multidecade Ponzi scheme on the order of $50 billion. He’s likely to spend the rest of his life in jail.
Ezra Merkin, who until recently was the nonexecutive chairman of GMACÂ and has been a longtime fixture in the Jewish charity scene, funneled money to Madoff.
Merkin, his Gabriel Capital LP fund and Ariel Fund Ltd. are named in the lawsuit.
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