New Questions Emerge About Philanthropist Picower’s Role in Madoff Scandal
June 24, 2009 | Read Time: 1 minute
New questions have come to light about businessman and philanthropist Jeffry M. Picower in connection with the Bernard Madoff investment scandal, ProPublica, an investigative-news organization, reports.
Mr. Picower, with his wife Barbara, created the Picower Foundation — one of the nation’s largest foundations until it collapsed in December as part of the Madoff controversy. The news organization says Mr. Picower is alleged to have wrongfully taken in $5.1 billion from Madoff accounts.
For more on efforts by the trustee in the Madoff case to seek the return of the money, read The Chronicle’s coverage.
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