NEW YORK - NEW YORK'S attorney general has filed civil fraud charges against a hedge fund manager who funneled billions of dollars in client money to Wall Street swindler Bernard Madoff.
The complaint charges J Ezra Merkin with lying to his investors about how he was handling their money.
Attorney General Andrew Cuomo says Mr Merkin invested US$2.4 billion (S$3.6 billion) in client cash with Madoff without their permission.
The complaint says Mr Merkin collected US$470 million (S$708 million) in management fees from the accounts.
Mr Merkin has claimed he was victimised by Madoff like everyone else.
He is the former chairman of the financing arm of General Motors. -- AP
