Ezra Merkin Sells His Rothkos And Giacomettis
"Bombarded by lawsuits accusing him of fraud" - his hedge funds lost $2.4 billion in Bernard Madoff's Ponzi scheme - "Merkin and his wife have arranged to sell their impressive collection of paintings by abstract expressionist Mark Rothko, as well as some valuable sculptures by Alberto Giacometti, according to legal papers filed Tuesday. An anonymous buyer has agreed to pay $310 million for the trove" - money that will go into a victim compensation fund. AP 06/30/09

Posted June 30, 2009 09:30 PM