Madoff redux: affinity fraud

Scammer hits Orthodox Jews. I lost a friend and a reader last year when I discussed Bernie’s preying on his fellow Jews, but look – it’s not a Jewish thing, it’s about trusting someone who seems to be part of your “community” : Yale, Round Hill Club, whatever. Beware.

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13 responses to “Madoff redux: affinity fraud

  1. Mr. Independent

    Your friend owes you a big apology. The damage that Madoff did to the Jewish charitable community was so great that many leaders of that community were calling the sociopath a closet Nazi.

  2. Inagua

    Mr. Independent,

    Do you know of any Jewish charity that put more money into Madoff than it took out? Most Jewish charities I have read about were substantial net winners. Hadassah, for example, took out about $60 million more from Madoff than it put in. Do you think Hadassah should return that money to the Trustee to be distributed to the people it was stolen from?

  3. sexy bitch

    did you know linda names her boat this? what does blumenthal call his boat? old granny.

    http://blogs.courant.com/rick_green/2010/07/thoughts-from-thebeach-if-bumb.html

  4. Jimbo

    Well, Eli Weisel claims he lost a lot of money.

    Speaking of Weisel, I remember his quote, when he was asked how he could invest so much with a man he didn’t know: “I trusted him because he was a Jew.”

    That seems like a understandable quote until you imagine you were a Christian investment manager pitching Weisel to invest with you. Then you realize your Christianity would be a victim of his bigotry. And this from a man whose books Greenwich school children are forced to read because he is supposed to be so learned and sensitive to issues of religious persecution.

    • I wouldn’t so harsh on the man, Jimbo – there’s a sense of community between Jews that makes fraud seem unlikely but also, unfortunately, opens the door to fraudsters. My old law firm had a great clientele of prosperous Jewish families who insisted on Irish lawyers!

  5. Jimbo

    Come on CF. Could you justify racism toward
    Blacks by making the seemingly positive observation that “there’s a sense of community between Whites”?

    • I don’t know, Jimbo – fair question. But, while it’s a non-pc observation, I do believe it’s true. I handled many broker fraud cases in my day and among my Jewish clients, a common theme was that they trusted the crook because he was a member of their faith. Make of that what you will.

  6. Inagua

    Jimbo,

    Claiming something does not make it so. Hadassah claimed it had lost $60 million with Madoff, while it had in fact withdrawn $90 million more than it put in. And it has not refunded any of this stolen money to benefit those Madoff victims who were net losers.

  7. Anonymous

    And didn’t “Hadassah” receive other benefits from Bernie as well?

  8. illsa

    Who is to complain?

    All the scratch went indirectly to Israel anyway.

  9. illsa

    si.

    Switzer—land???