J. Ezra Merkin's so-called feeder funds for Bernard Madoff’s Ponzi scheme will pay investors $110 million, bringing total recoveries to more than $500 million, Bloomberg News reported yesterday. The third cash payment by Merkin’s Ariel and Gabriel funds, which has been approved by a New York Supreme Court judge, will be delivered within about 10 business days, liquidator Bart M. Schwartz said in a statement dated today that was e-mailed to Bloomberg News. The payments are separate from the money recovered for Merkin’s former investors by New York Attorney General Eric Schneiderman in a $410 million settlement of a state lawsuit against the investment adviser, Schwartz said.
