Fleming Serves as Arbitrator in Madoff Claim Against Ascot Partners
Law.com reported that a New York state judge confirmed a $1.5 million arbitration award in favor of an investor in Ascot Partners, controlled by hedge fund operator J. Ezra Merkin. Ascot had turned over funds to convicted Ponzi-schemer Bernard L. Madoff. David Bamberger of Bamberger and Brickman, who represents one of the investors, said that to his knowledge the affirmance of the 2-1 arbitration award is the first to hold one of Madoff's "feeder funds" legally responsible for investor losses. Thomas J. Fleming served on the arbitration panel that heard the evidence in the case.