Pharma Investments, Ventures & Law Weekly
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Jewish Community Foundation of Los Angeles
Jewish Community Foundation of Los Angeles Forms Special Committee in Wake of Alleged Madoff Fraud
January 11th, 2009
The Jewish Community Foundation of Los Angeles (The Foundation) announced the appointment of a special committee in the wake of the alleged Bernard Madoff fraud. The Foundation disclosed on Monday that it had entrusted $18 million, less than 5% (five percent) of its total assets, to Madoff’s investment firm. The committee received a mandate from the Board of Trustees of The Foundation to pursue the recovery of the defrauded assets and to conduct a comprehensive evaluation of The Foundation’s investment processes. Consistent with The Foundation’s pledge of transparency with respect to Madoff-related matters, the special committee will issue interim and final reports of...
Source: Pharma Investments, Ventures & Law Weekly (2009-01-11)
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