What Hadassah Won’t Tell Us
Every time Hadassah tries to put the Madoff affair behind them, some new item winds up in the mainstream press.
Irving Picard, the liquidator for Bernard Madoff’s investment business, said he might sue charities that took out more money than they invested with the imprisoned con man to force them to return the difference.
…Charities aren’t exempt from such “avoidance actions,” Picard said today in an e-mail.
Under Picard’s formula, $90 million of Hadassah’s fake profit may now technically be a clawback target. The charity’s spokesman, Steve Rabinowitz, said he couldn’t comment on how much was withdrawn during the past six years.