Madoff's investors centered exclusively on Orthodox Jewish groups (three other branches of Judaism were not involved). When Madoff confessed he resigned as chairman of Yeshiva University's Sy Syms School of Business, and as board treasurer. Yeshiva's board scrubbed all mention of Madoff from its Web site. Madoff also sits on the boards of North Shore-Long Island Jewish Graduate School of Molecular Medicine, the Picower Institute for Medical Research and New York City Center, a theater organization.
Madoff and his wife, Ruth, Madoff also run a “self-funded non-profit“……………with about $19 million in assets, according to IRS filings…………donating millions to Jewish charities, Dalton School, the Metropolitan Opera, Queens College, Lincoln Center Theater, the Robin Hood Foundation, and groups for underprivileged kids.
SOURCE http://www.nypost.com/seven/12132008/news/regionalnews/charity_trustees_a_bustee_143968.htm
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Stanley Chais tops Madoff's speed-dial entry....as a longtime money manager and Bernie's close friend on the Palm Beach country club circuit of wealthy Jewish returees and businessmen. Chais said the swindle wiped out the Chais Family Foundation, which made millions of dollars in annual contributions to various Jewish charges. Chais must have known about the disgraced financier's multibillion-dollar Ponzi scheme, a complaint filed in Bankruptcy Court claims.
THE RELIGIOUS, SOCIAL, AND BUSINESS LABYRINTH
(4800 INVESTORS) MADOFF USED TO RAKE IN BILLIONS.
MAP IS INTERACTIVE AT WEB SITE
WEB SITE http://news.muckety.com/2008/12/28/madoff-used-social-family-networks-to-rake-in-billions/9031
CHAIS FEEDER FUND Brighton Co Investments is headed by Stanley Chais, a Beverly Hills "philanthropist" who served on "charitable" boards with Madoff. Chais (pronounced Chase) told the Jewish Journal of Los Angeles that he personally invested with Madoff but also "facilitated" others who wished to do likewise. However, spokesmen for the SEC and the California Dept of Corporations said they could find no record of Chais registering as an investment advisor or a broker.
Stanley Chais offers remarks at the Weizmann Institute of Science.
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Chais said the Madoff swindle wiped out the Chais Family Foundation, which made millions of dollars in annual contributions to various Jewish charges.
If Chais took out any monies from the Madoff operation that went into the Chais Family Foundation, the money has to be returned so that it can be redistributed to the investors swindled by Madoff. Comes under the legal principle of "fraudulent conveyance"....means one cannot legally profit from a fraud.