• Home
  • About
    • About
    • Policies
  • Submissions
    • Op-eds
    • News / Announcements
  • Contact
  • Donate
  • Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar
  • Skip to footer

eJewish Philanthropy

Your Jewish Philanthropy Resource

  • News Bits
  • Jewish Education
  • Readers Forum
  • Research
  • Show Search
Hide Search
You are here: Home / In the Media / Robert Lappin’s Double Hit

Robert Lappin’s Double Hit

December 20, 2010 By eJP

Boston area businessman and philanthropist Robert Lappin has now taken a second hit in the ongoing fallout from the Madoff Ponzi scheme.

Bankruptcy trustee Irving Picard is suing Lappin and related entities for $1.8 million that they allegedly made investing with Madoff. According to court filings, “The transfers received by the defendants constitute non-existent profits supposedly earned in (Lappin’s) account. But in reality, (this was) other people’s money.”

Lappin, who lost more than $20 million of his personal fortune in the Madoff scam, made news last December by replacing $5.1 million in his employee’s 401(k) plans that were lost through Madoff investments.

The assets of The Robert I. Lappin Charitable Foundation, a major supporter of Jewish causes, were pretty much wiped out from Madoff losses. In the aftermath, the foundation has received support from donors, both corporate, individual and anonymous, and the Jewish Federation of the North Shore, to keep their core Youth to Israel program operating.

According to various media reports, Picard has initiated more than 1000 clawback suits against investors who were net winners relative to Madoff investments.

Print Friendly, PDF & Email

Filed Under: In the Media, Jewish Philanthropy

Click here to Email This Post Email This Post to friends or colleagues!

Reader Interactions

Primary Sidebar

Join The Conversation

What's the best way to follow important issues affecting the Jewish philanthropic world? Our Daily Update keeps you on top of the latest news, trends and opinions shaping the landscape, providing an invaluable source for inspiration and learning.
Sign Up Now
For Email Marketing you can trust.

Continue The Conversation

  • Email
  • Facebook
  • RSS
  • Twitter

Recent Comments

  • Jordan Goodman on Mitzvah Day: Good, But (Maybe) Not Tikkun Olam
  • Cindy Greenberg on Mitzvah Day: Good, But (Maybe) Not Tikkun Olam
  • Lisa Finkelstein on Diverse Narratives and Backgrounds Can Create Broader Jewish Life
  • Ron Wolfson on Silverman Not to Seek Contract Renewal
  • Yehuda on Parting the Red C’s – Escaping Egypt and the belief that Millennials won’t pay

Categories

Archives

Footer

What We Do

eJewish Philanthropy highlights news, resources and thought pieces on issues facing our Jewish philanthropic world in order to create dialogue and advance the conversation. Learn more.

Top 40 Philanthropy Blogs and Websites to Follow in 2018

Copyright © 2018 · eJewish Philanthropy · All Rights Reserved