Madoff

  • How did the Washington federation get roped into Madoff?

    The Jewish Federation of Greater Washington was set to release two reports as to how it and its United Jewish Endowment Fund became entangled in the Madoff scheme, according to the Washington Jewish Week. The documents have not yet been released to the public, but the federation did make them available to the paper: In… More ▸

  • A year later, Hadassah says it is ok after Madoff

    After being raked over the coals by the media over the past year for its heavy investments that it had with Bernard Madoff, Hadassah is getting some somewhat positive press over how it has navigated the crisis. Nancy Falchuk, Hadassah’s president, got the lede in today’s widely distributed AP story about how some of Madoff’s… More ▸

  • On scam’s anniversary, more on Madoff

    On the anniversary of the day that Bernard Madoff made his confession that he had ripped of billions of dollars, the media is filled with retrospection. Here’s a brief roundup: The WSJ talks about how several nonprofits – including Brandeis University and Yeshiva University — have changed how they operate: Brandeis University, which had received… More ▸

  • WSJ: In the end Madoff might not be as bad as feared for investors

    Because of potential clawbacks and huge tax breaks that Bernard Madoff’s victims are now getting, the news in the end might not be as horrible as once feared for those who invested in Madoff’s Ponzi scheme, The Wall Street Journal says this morning. Irving Picard, the trustee for Madoff’s estate, has already recovered about $1.5… More ▸

  • Prosecutors: Net losses in Madoff scam around $13 billion

    According the Associated Press, Federal prosecutors said Tuesday that about half of the victims of Bernard Madoff had no net loss because they withdrew at least as much from their accounts as they had invested. And while $60 billion is the number that has been thrown around as the total size of Madoff’s scheme, prosecutors… More ▸

  • Cali. attorney general sues Stanley Chais for role in Madoff scheme

    California’s attorney general is suing the financial manager who was one of the primary conduits to Bernard Madoff’s Ponzi scheme, the attorney general’s office announced Tuesday. Edmund G Brown, Jr., filed suit against Stanley Chais for concealing that his investment strategy consisted solely of giving tens of millions of dollars to Madoff, despite that he… More ▸

  • Head of Indiana school on philanthropy spins positive on Jewish giving

    eJewishphilanthropy has an interesting post today in which Bob Evans and Avrum Lapin of EHL Consultants spoke with the new head of the Center on Philanthropy at Indiana University, Patrick Rooney, about Jewish philanthropy. Rooney asserts that Jews give on average more than people of other faith groups and more than those who do not… More ▸

  • Want to buy Madoff’s beach house?

    The hottest spot in the Hamptons last weekend was not a sceney club, but rather Bernard Madoff’s old beach house, which is now up for sale for $8.75 million, writes the Times’ Allen Salkin: The United States Marshals Service, which is overseeing the sale of the house to benefit victims of Mr. Madoff’s $65 billion… More ▸

  • Bloomberg News: Madoff trustee now says charity clawbacks possible

    After months of skirting the question, the trustee for the Bernard Madoff estate, Irving Picard, has told Bloomberg News that he may indeed go after charities that profited from their investments with the Ponzi schemer. From Bloomberg: The law requires him to file so-called clawback suits against investors that profited from the fraud at Bernard… More ▸

  • Washington Post rounds up the Bernie books

    The Washington Post also has a roundup of three of the recently released Madoff books, “too Good to be True by Erin Arvedlund, “Betrayal” by Andrew Kirtzman and Madoff With the Money by Jerry Oppenheimer. The combined review of the three books recounts some of the tales that each of the books share, like the… More ▸