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The Madoff Fraud:Scam of the Century
Columbia says it lost $3 million to Madoff Fraud

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Columbia says it lost $3 million tied to Madoff

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Columbia says it lost $3 million tied to Madoff Wed Jan 21, 2009 6:57pm EST NEW YORK, Jan 21 (Reuters) - Columbia University said on Wednesday it had uncovered $3 million in losses tied to accused READ MORE
http://www.reuters.com/article/marketsNews/idUSN2150212020090121
Columbia University said on Wednesday it had uncovered $3 million in losses tied to accused swindler Bernard Madoff, joining other New York universities hit by the purported fraud. Columbia spokesman Robert Hornsby confirmed the losses, but declined to provide further details beyond saying that information in a Bloomberg News story on the losses was accurate. Bloomberg reported that the school discovered the losses in a review of its investments. The news service said the money was tied to a 1980 gift to Columbia's law school from an unnamed alumnus who had retained the right to decide how the funds would be invested.
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