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News Briefs

  Kislev 17, 5769 , 14/12/08

American Jews in Shock over Madoff Fraud Charges

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.

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