Jewish Groups Among Charities Facing Lawsuits by Madoff Trustee

Several major Jewish organizations are among numerous nonprofit groups being hit with “clawback” lawsuits by the bankruptcy trustee in the Bernard Madoff case, according to the Forward.

Lawsuits filed last week by the trustee, Irving Picard, allege the American Committee for Shaare Zedek Medical Center in Jerusalem, the America-Israel Cultural Foundation, the Joseph Persky Foundation, United Congregations Mesorah, and other charities earned millions of dollars in phony profits through investments in Mr. Madoff’s Ponzi scheme.

Mr. Picard and his legal team have submitted hundreds of such claims in the run-up to a December 11 deadline to file lawsuits seeking to recoup allegedly fraudulent profits and repay other investors’ losses in the Madoff case.