Hat tip to the Ann Arbor Chronicle, it appears as though the primary donors to the new (& very well done) University of Michigan baseball and softball complex were stung a bit by Ponzi schemer Bernard Madoff. Ouch.
Bloomberg.com compiled and published a list of foundations that invested with Madoff and included the Wilpon Family Foundation.
Thankfully it’s not clear how much the family invested and lost with the shmuck Madoff.
The WSJ has been all over the Madoff story, read Stephen Greenspan’s essay this weekend, Anatomy of Gullibility: Why We Keep Falling for Financial Scams.