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.
Related:
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.
3 Comments
Devon
The foundation isn’t related to Wilpon’s personal money, it’s his investment firm. Still, it’s $300 million, about. Crazy, no?
Greg (MVictors)
Big time. Madoff is such a putz. It’s really sad, especially all the charities directly (and indirectly) affected. I read today about some guy who wired $10M to Madoff six days before he admitted the whole thing.
BiggieMunn
Dude, no more skulls? All Twitter :(