Here’s the pattern: Anyone who was anyone in the Madoff circle (rich individuals, schools, charities, synagogues, etc.) had money with Bernie, EXCEPT his sons. Both Mark and Andy had their private foundation money managed elsewhere, and another charity. Now Fortune reports that The Lymphoma Research Foundation, which has been chaired by Andy Madoff since January, didn’t have any money in the scheme.
This is a real puzzler. So many groups were desperate to have their money with Madoff, and the sons knew that dad had a stellar track record. How could this not have come up? So far the sons are just witnesses, but their wise decisionmaking is odd.