Investor Loses Suit Over $1.5M In Lost Madoff Funds

Law360, Los Angeles (July 31, 2013, 7:45 PM EDT) -- A New York federal judge on Tuesday threw out a lawsuit brought against Gabriel Capital Corp. and fund manager J. Ezra Merkin by an investor who lost $1.5 million in after an offshore hedge fund managed by the defendants invested the assets with Ponzi schemer Bernie Madoff.

The lawsuit, filed in March, raised allegations that plaintiff Keren Matana’s investment was wiped out following the revelation that Madoff was operating a massive Ponzi scheme — and included state law claims of fraud, breach of fiduciary duty, breach...
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