Big-time Bernie Madoff feeder Ezra Merkin has been forcibly removed from his fund and the $1.4 billion that remains in it sill be unwound and returned to shareholders.
It was only a matter of time before Merkin had to close up shop, but New York AG Andrew Cuomo did it for him, WSJ reports.
Of course, Merkin faces years of legal headaches from jilted investors angry at putting so much of their money with Madoff and evidently performing a bare minimum of due diligence.
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