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Wednesday, December 17, 2008
Florida Investors Among Victims of Bernard Madoff
A Weston investment management firm, a foundation that has donated millions to Palm Beach County arts and some of the world's biggest banks are among hundreds of organizations whose fortunes changed with the arrest of veteran money manager Bernard Madoff. With losses estimated at $50 billion, regulators are now calling it one of Wall Street's biggest-ever pyramid schemes. In addition to Miami car dealer Norman Braman, Jewish charitable organizations were particularly hard hit, including MorseLife Community, a senior center in West Palm Beach.
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