Madoff Moneyman Merkin near $400m AG Deal

from New York Post:

Ezra finally pays

After a bitter three-year legal battle, Ezra Merkin, the Manhattan moneyman who funneled more than $2 billion to convicted Ponzi king Bernie Madoff, is nearing a settlement with the New York attorney general that could have him shell out as much as $400 million, The Post has learned.

Sources said the settlement with AG Eric Schneiderman would recover the bulk of the $470 million in fees the notorious middleman pocketed from investing his clients’ cash with Madoff.

… Meanwhile, Merkin – once a respected philanthropist who was forced to step down as an officer of the Fifth Avenue Synagogue, a wealthy congregation founded by his father – has held on to his billionaire lifestyle.