J. Ezra Merkin, under investigation by New York AG, Andrew Cuomo has given up control of his investigative fund, Ascot Partners. According to many, Ascot was a major feeder fund for Bernard Madoff's lucrative ponzi empire. See Muckety's Ascot wheel of influence, right here.

Attorney General Cuomo has accused Merkin of complicity in the Madoff fraud. He is also facing a variety of private suits from other investors. At least eight other Madoff investors are currently under governent investigation. Three named thusfar as of interest in the investigation are Jeffrey Picower, Stanley Chais and Carl Shapiro.

Labels: Ascot Partners, Bernie Madoff, Carl Shapiro, Jeffrey Picower, Stanley Chaise