American Jews are reeling from charges that philanthropist and investor Bernard Madoff was behind what is being billed as the biggest fraud in the history of Wall Street, estimated at $50 billion. Federal authorities have frozen its funds, leaving several Jewish charities without money.

Madoff's attorneys said responded that he "is a person of integrity." Since the charges were exposed, he has resigned as an executive at the Yeshiva University, where he and his wife had endowed a fellowship.