Madoff Client List Released, More Foundations Report Losses

Two Seattle-area foundations whose assets were managed by Bernard Madoff’s firm have suffered significant losses in Mr. Madoff’s alleged investment scam, according to The Seattle Times.

The Patrice and Kevin Auld Foundation, in Seattle, reported holding $1.7-million of its nearly $1.8-million asset total in Madoff investments during the 2007 fiscal year. The Kaleidoscope Foundation, in Bellevue, Wash., reported holding almost $3.2-million of its $12.6-million in Madoff investments at the end of 2007. Both support conservation and educational causes.

Meanwhile, a filing in U.S Bankruptcy Court, in New York, released today and published by The Wall Street Journal, includes a list of thousands of Mr. Madoff’s clients, including charities and foundations.

(A paid subscription is required to view the Wall Street Journal article.)