Reportedly, people who had hoped to attend tomorrow’s DC festivities had their dreams dashed due to the Madoff Ponzi:
Scripps News: At least two dozen people in California and other states have lost out on inauguration packages to Barack Obama’s swearing-in ceremony, which they had believed would also give them a chance to meet the new president.
Their hopes became snagged in a bizarre web involving a New York investment firm said to be reeling under the weight of the Bernard Madoff financial scandal and a Chicago-based children’s charity, which announced Friday it has temporarily shut down.
Dr. Donna Pachorek, a Santa Rosa Valley, Calif. resident who owns a medical practice in Thousand Oaks, and Bill Dundas of Camarillo, Calif. were among those who bid on the packages through an e-Bay auction that was to benefit the children’s charity December Rain. Each of them paid $5,500.
December Rain said it purchased the packages through Fairfield Greenwich Group, a New York investment firm that is said to have direct ties to Madoff’s securities firm. The Wall Street Journal has reported that Fairfield Greenwich appears to be the biggest casualty in Madoff’s alleged $50 billion Ponzi scheme.
December Rain Executive Director Paul Saulnier was critical of Fairfield Greenwich in an interview last week, saying he never received the promised ticket packages.
Hmm, doesn’t something seem odd about this story? Namely, the part about Fairfield selling inauguration trip packages. Now we don’t doubt for a minute that the firm was engaged in a lot of shady stuff, but seriously, selling $5,000 trips to charities? Something doesn’t add up. We wonder if the charity is somehow confused. Any theories?