Fallout from Madoff scandal descends on Washington
- January 1, 2009 |
- hemmer
The aftershocks of embattled Wall Street financier Bernard L. Madoffs downfall rattled Washington, where his ties to lobbying firms, nonprofit organizations and associations resulted in resignations and left organizations possibly facing massive financial losses. Of those caught in Madoffs web are a host of charities, many of them Jewish-oriented, including the Jewish Federation of Greater Washington. In a letter sent to United Jewish Endowment Fund donors, the Federation said it invested more than $10 million of the funds money with Madoff. Its too early to tell, said Mark Charendoff, president of the Jewish Funders Network, which advances Jewish philanthropy, but… Read More