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Austria Central Bank To Probe Madoff-Connected Bank

The Austria Central Bank will probe Bank Medici's practices in connection with the Bernard Madoff Ponzi scheme, according to Reuters. FMA, the Austrian financial regulator, already placed Medici under the supervision of a state official. The bank, 25 percent of

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The Austria Central Bank will probe Bank Medici’s practices in connection with the Bernard Madoff Ponzi scheme, according to Reuters.

FMA, the Austrian financial regulator, already placed Medici under the supervision of a state official. The bank, 25 percent of which is owned by UniCredit’s Bank Austria, also faces a class action lawsuit in the United States.

BusinessWeek is now reporting that New York Attorney General Andrew Cuomo might investigate a hedge fund manager for allegedly misleading charities and schools about the investments.

J. Ezra Merkin ran three hedge funds that were connected to Madoff.

jt

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