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Madoff scandal rocks Jewish philanthropic world


URL: http://www.jewishjournal.com/nation/article/madoff_scandal_rocks_jewish_philanthropic_world_20081215

At least two foundations have been forced to close because they had invested their funds with Madoff. The Robert I. Lappin Foundation in Salem, Mass., announced Dec. 12 that it would shut down after losing $8 million -- all of its money. And the Chais Family Foundation, which gives out some $12.5 million each year to Jewish causes in Israel, the former Soviet Union and Eastern Europe, announced its closing Dec. 14.

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