White-Collar Defense partner
Michael Shapiro was interviewed by
Fox Business News on April 6, 2009. The interview, “Merkin Charged With Fraud for Steering Money Into Madoff's Scheme,” involved financier's J. Ezra Merkin who was charged with fraud by the New York Attorney General's Office. Mr. Shapiro commented that "Cuomo needs to prove only that Merkin's marketing materials included material misstatements. They don't have to prove any intent to defraud or deceive." He went on to say that it was "inevitable" that all the advisors who turned a blind eye to Madoff's operations while collecting their fees would be held accountable.