Zuckerman Targets BDO Over $40M Madoff Investment

Law360, New York (May 19, 2011, 6:37 PM EDT) -- Accounting firm BDO Seidman LLP should be liable for the $40 million that real estate and media mogul Mortimer Zuckerman and his charity invested in a Bernard Madoff feeder fund, Zuckerman's attorney told a New York appeals court Thursday.

Zuckerman, the chairman of real estate investment trust Boston Properties Inc. and publisher of the New York Daily News, invested $25 million on behalf Mortimer Zuckerman Charitable Remainder Trust with J. Ezra Merkin's Ascot Fund Ltd. in July 2006. At the same time, Zuckerman invested another $15 million with a second Merkin fund, Gabriel Capital Partners LLP.

But Merkin hid from investors...

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