Charities and other nonprofits are among those whose funds went to Madoff through Merkin without their knowledge.
Merkin, a graduate of Columbia College and Harvard Law School, was a trustee, along with Madoff, of Yeshiva University, a Jewish university in New York. The university lost $110 million to Madoff.
Merkin resigned as nonexecutive chairman of GMAC LLC, the financing arm of General Motors, after the Madoff scandal. GMAC is now Ally Financial.
Madoff pleaded guilty in March 2009 to perpetrating the largest Ponzi scheme in U.S. history and is serving a 150-year prison sentence.
Picard has recovered or entered into agreements to recover more than $9 billion, over half the $17.3 billion in principal estimated lost by Madoff customers who filed claims, according to the trustee's website.
The New York case is New York v. Merkin New York state Supreme Court, No. 450879/2009.
The trustee case is Irving H. Picard v J. Ezra Merkin, et al, U.S. Bankruptcy Court for the Southern District of New York, No. 08-01789.
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