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NYU Urges Continued Ban on Merkin Shift of Madoff-Linked Money

New York University urged a judge to leave in place an order preventing J. Ezra Merkin from transferring millions of dollars of the university’s funds related to investments with Bernard Madoff.

Merkin’s Ariel Fund asked New York State Supreme Court Justice Richard Lowe in Manhattan to lift or amend the order, issued in January. It prohibits Merkin, his Gabriel Capital LP fund and Ariel Fund Ltd. from withdrawing, liquidating or dissolving assets. The university claims Merkin invested its money with Bernard L. Madoff Investment Securities LLC without its knowledge.