Lindsay Pollock reports on Bloomberg that Ben Heller, Art Consultant, was paid a $26.5 million commission for the $310 million bulk sale of Mark Rothko Paintings, owned by J. Ezra Merkin, whose Ascot Partners LP invested with convicted felon Bernard Madoff.
In a Bloomberg News interview earlier this year, Mr. Heller said he suffered losses in excess of $13 million from investing in Madoff Funds; $3.4 million invested in a charitable trust and $10 million in personal funds.
Ben Heller was art consultant to Mr. & Mrs. Merkin from 2003 to 2008; Mr. Heller helped the Merkins assemble one of the largest private Mark Rothko collections in the world.
"The sale was approved by New York State Attorney General Andrew Cuomo, who froze Merkin’s assets and is suing him for concealing his $2.4 billion investment with Madoff. If Cuomo wins, funds from the art sale will go toward recouping investor losses."
"The sale produced $191 million, after fees, taxes and legal expenses, to be held in escrow."
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