Madoff investors win $12.74 mln arbitration award

* Invested in J. Ezra Merkin’s Gabriel Capital

* Gabriel was feeder fund for Madoff’s Ponzi scheme

NEW YORK, Sept 3 (BestGrowthStock) – Investors in Gabriel Capital
LP, a so-called “feeder fund” that funneled money to imprisoned
swindler Bernard Madoff, were awarded $12.74 million by a panel
of arbitrators, court records show.

The award was disclosed in a filing Thursday with the New
York State Supreme Court in Manhattan.

Andrew Levander, a lawyer for hedge fund manager Ezra
Merkin, who oversaw the Gabriel fund, did not immediately
return a call seeking comment.

The investors are Sandalwood Debt Fund A LP and Sandalwood
Debt Fund B LP. They, like many other Madoff customers,
invested in feeder funds that transferred their money to Madoff
to manage.

The case is In re: Arbitration between Sandalwood Debt Fund
A LP and Sandalwood Debt Fund B LP v. Merkin, New York State
Supreme Court, New York County, No. 651441/2010.
(Reporting by Jonathan Stempel in New York; Editing by Richard
Chang)

Madoff investors win $12.74 mln arbitration award