Madoff scandal hits local nonprofits

The biggest case of investor fraud in American history, perpetrated by Bernard Madoff, may bilk investors out of some $50 billion. Locally, the pain is hitting several Twin Cities nonprofits that received funding from the New York–based JEHT Foundation, which invested heavily in Madoff-related entities. Madoff-affiliated foundations gave money to nonprofits ranging from the local Liberian Truth and Reconciliation Commission to the Wellstone Action Fund to a Fairview Foundation dedicated to assisting patients with terminal illnesses.