Madoff Investment Scandal
In 2008 the American Friends of Yad Sarah was named as one of the victims of the Madoff investment scandal. The group had invested $1.5 million with J. Ezra Merkin's Ascot Partners, a Madoff promoter, in 2006, and lost its entire investment when the fraud was discovered.
Read more about this topic: Yad Sarah
Famous quotes containing the words investment and/or scandal:
“There is something fascinating about science. One gets such wholesale returns of conjecture out of such a trifling investment of fact.”
—Mark Twain [Samuel Langhorne Clemens] (18351910)
“The day the world ends, no one will be there, just as no one was there when it began. This is a scandal. Such a scandal for the human race that it is indeed capable collectively, out of spite, of hastening the end of the world by all means just so it can enjoy the show.”
—Jean Baudrillard (b. 1929)