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Madoff-invested charities contributed $365k to Media Matters

Posted By admin On February 28, 2012 @ 4:16 am In Prison Planet | Comments Disabled

Daily Caller [1]
February 28, 2012

Media Matters for America [2] accepted funding from at least three foundations whose money “grew” under the fraudulent stewardship of the now-incarcerated Bernard Madoff. One of those foundations was backed by a man many believe was in cahoots with the legendary financial criminal.

Madoff’s Wall Street empire crumbled in late 2008 after federal authorities were tipped off to his multibillion-dollar Ponzi scheme.

Among those institutions that saw their fortunes evaporate were foundations that had placed their trust and investments in Madoff’s surreal enterprise. Three of those philanthropies contributed money to Media Matters in 2008, at least one of which may have even been complicit in Madoff’s scheme.

The Picower Foundation, which The New York Times referred to as “one of the nation’s leading philanthropies,” shuttered its $1 billion enterprise after Madoff’s arrest. Barbara Picower, who co-founded the charity with her late husband, investor Jeffry M. Picower, told [3] the Times in December 2008 that Madoff’s “act of fraud has had a devastating impact on tens of thousands of lives as well as numerous philanthropic foundations and nonprofit organizations.”

Full article here [1]


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URLs in this post:

[1] Daily Caller: http://dailycaller.com/2012/02/27/madoff-invested-charities-contributed-365k-to-media-matters/

[2] Media Matters for America: http://topics.dailycaller.com/politics/reporters/media-matters.htm

[3] told: http://www.nytimes.com/2008/12/20/business/20foundation.html

[4] Left-wing foundations lavish millions on Media Matters: http://www.prisonplanet.com/left-wing-foundations-lavish-millions-on-media-matters.html

[5] New Madoff lawsuits seek $40bn: http://www.prisonplanet.com/new-madoff-lawsuits-seek-40bn.html

[6] Madoff accountant’s son commits suicide in Ohio: http://www.prisonplanet.com/madoff-accountant%e2%80%99s-son-commits-suicide-in-ohio.html

[7] Madoff’s alleged $50 billion fraud hits other investors: http://www.prisonplanet.com/madoffs-alleged-50-billion-fraud-hits-other-investors.html

[8] Rothschild Difference With Madoff Becomes Geneva’s Obsession: http://www.prisonplanet.com/rothschild-difference-with-madoff-becomes-geneva%e2%80%99s-obsession.html

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