Difference between revisions of "Bernard Madoff"
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| − | '''Bernard L. Madoff''' (born April 29, 1938) is a registered [[Democrat]], former chairman of the [[Nasdaq]] stock exchange, founder of Bernard L. Madoff Investment Securities, and the central figure of the [[Ponzi scheme]] story broken on December 11, 2008. Over 13,000 investors, especially from the Jewish community, lost | + | '''Bernard L. Madoff''' (born April 29, 1938) is a registered [[Democrat]], former chairman of the [[Nasdaq]] stock exchange, founder of Bernard L. Madoff Investment Securities, and the central figure of the [[Ponzi scheme]] story broken on December 11, 2008. Over 13,000 investors, especially from the Jewish community, lost about $13 billion. |
| − | + | Madoff pleaded guilty to securities [[fraud]]. His company was, according to his own words after his arrest, "Basically a giant Ponzi Scheme." <ref>http://edition.cnn.com/2008/US/12/11/madoff.arrest/?iref=mpstoryview Former Nasdaq chairman charged with fraud.</ref> He was sentenced to 150 years in federal prison. | |
| − | Before his arrest | + | Before his arrest, Madoff was a leader in [[philanthropy]]. |
==Silver Lining== | ==Silver Lining== | ||
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* Democratic Senatorial Campaign Committee: $102,000. | * Democratic Senatorial Campaign Committee: $102,000. | ||
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== External links == | == External links == | ||
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[[Category:Business]] | [[Category:Business]] | ||
| + | [[Category:Corruption]] | ||
Revision as of 17:29, July 2, 2009
Bernard L. Madoff (born April 29, 1938) is a registered Democrat, former chairman of the Nasdaq stock exchange, founder of Bernard L. Madoff Investment Securities, and the central figure of the Ponzi scheme story broken on December 11, 2008. Over 13,000 investors, especially from the Jewish community, lost about $13 billion.
Madoff pleaded guilty to securities fraud. His company was, according to his own words after his arrest, "Basically a giant Ponzi Scheme." [1] He was sentenced to 150 years in federal prison.
Before his arrest, Madoff was a leader in philanthropy.
Silver Lining
Abortion groups invested heavily in Madoff. The result, Planned Parenthood is laying off about 20 percent of its staff. Another Madoff investor, the Florida-based Picower Foundation shut down in December. The foundation was worth $1 billion and is one of the top financial backers of pro-abortion groups. The JEHT Foundation gave $24 million in 2008 to abortion groups as well as the ACLU, also announced closing its doors in December. [2]
Campaign Contributions
Madoff gave considerable financial support to the Democratic party. A partial list of Democrat campaign contributions from Madoff; [3] [4]
- Sen. Charles Schumer, D-N.Y.: $10,000.
- Sen. Hillary Rodham Clinton, D-N.Y.: $1,000.
- Rep. Richard Gephardt, D-Mo.:$ 2,000.
- Rep. Charles Rangel, D-N.Y.: $2,000.
- Sen. Chris Dodd, D-Ct.; $1,500.
- Sen. Frank Lautenberg, D-N.J.: $11,200.
- Gov. Jon Corzine, D-N.J.: $1,000.
- Rep. John Dingell, D-Mi.: $1,000.
- Rep. David Obey, D-Wi.:$1,000.
- Democratic Senatorial Campaign Committee: $102,000.
External links
References
- ↑ http://edition.cnn.com/2008/US/12/11/madoff.arrest/?iref=mpstoryview Former Nasdaq chairman charged with fraud.
- ↑ Madoff Scandal Rocks Pro-Abortion Groups NewsMax, January 12, 2009
- ↑ Who'da thunk? Dems made off with Madoff loot! WND, March 11, 2009
- ↑ Madoff and Company Spent Nearly $1 Million on Washington Influence OpenSecrets