CNN iReport

Photo 2005: Sharon, Olmert, Merkin; $500 million check for share in Israeli Government's Bank Leumi

Getting to know them:

Jacob Ezra Merkin:  One of the key players of the multi-billion dollar criminal fraud carried out by Bernerd Madoff. He is known as the chairman of GMAC, the financial service branch of General Motors and as the general partner of Gabriel Capital LP, a $5 billion family of hedge funds.  He has also been the head of the Ariel Fund, based in the Cayman Islands, and a managing partner of Gotham Capital.  Merkin secretly diverted vast amounts of money to Madoff's "Ponzi" scheme or pyramid operation.  He was seen as "the Golden Boy controlling the Golden Goose."

Bernard Madoff's partner in crime Jacob Ezra Merkin bought Israel's

Bank Leumi from the Israeli government headed by Ariel Sharon and then

finance minister Ehud Olmert.   In January 2007, Israeli State

Prosecutor Eran Shendar ordered police to begin a criminal

investigation into Prime Minister Ehud Olmert, on suspicion of having

influenced the sale of a controlling stake in Bank Leumi.  In the Leumi

case, Olmert is suspected of having tried to throw the tender to his

friend, Australian real estate magnate Frank Lowy, who was a partner

with Larry Silverstein and co-lease-holder of the World Trade Center on

9-11.

Merkin and Madoff served together on the board of Yeshiva University, where Merkin was chair of the investment committee and Madoff was treasurer and chair of the Sy Syms School of Business. Merkin invested Yeshiva University money into Madoff's operation.  Both quit when the scandal broke.

http://www.ynetnews.com/articles/0,7340,L-3195166,00.html

http://blogs.jta.org/philanthropy/article/2009/01/09/1002120/pressure-mounts-on-gmac-to-oust-merkin-over-madoff-scheme

http://www.bollyn.info/home/articles/911/another-massive-zionist-fraud-surfaces/