New York financier, Ezra Merkin, is selling part of his art collection to an unknown buyer for $310 million, The Wall Street Journal reports. The sale may generate about $190 million in proceeds, which could go to investors who were defrauded in the Bernard Madoff scam.

Over $100 million of the sale proceeds will go to pay liens on the art, commissions on the sales of the artwork, other fees and taxes. The art works of Merkin, who steered over $2 billion in investor money to Madoff, includes over 10 works by Mark Rothko and two Alberto Giacometti sculptures.

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