Merkin close to settling with NY for $400 million: source

NEW YORK (Reuters) - Financier J. Ezra Merkin, accused of secretly steering $2.4 billion in client funds to Ponzi schemer Bernard Madoff, is close to settling a lawsuit brought by the New York attorney general for about $400 million, according to a person close to the matter.

Source: http://feeds.reuters.com/~r/reuters/businessNews/~3/j4XErSCRPCY/us-merkin-madoff-idUSTRE8211JV20120302

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