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You are here: Home / American Philanthropy / Madoff, Clawbacks and Charities: The Talk, and Guessing, Continues

Madoff, Clawbacks and Charities: The Talk, and Guessing, Continues

November 10, 2009 By eJP

17371The incredible story of Bernie Madoff’s mammoth Ponzi scheme has unfolded in several phases, as layer after layer of deception has been peeled away. The guilty plea of his accountant last week has raised expectations that further investigations may ensue. Meanwhile, a trustee has taken steps to begin to recoup some of the millions that were paid to investors, in an effort to restore some of those who had been swindled. Will the charities who “earned” or withdrew millions from Madoff accounts be subject to “clawbacks” by the trustee? Planned giving expert and blogger Jonathan Gudema has a fascinating look at this question.

from onPhilanthropy.com:

Madoff, Clawbacks and Charities

For those in the philanthropic world, seeing stories in the press about the bankruptcy trustee in the Madoff mess, Irving Picard, and his attempts to recover assets has to make us wonder what will be with charities potentially involved in clawback suits.

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Filed Under: American Philanthropy Tagged With: governance

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  1. Another Set of Layoffs at Hadassah | eJewish Philanthropy: The Jewish Philanthropy Blog says:
    November 20, 2009 at 12:19 pm

    […] operating at minimal levels. Or, is Hadassah simply being prudent with the possibility of a clawback suit related to the Madoff fiasco still on the horizon? Bookmark: Tags: Hadassah  Email This […]

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