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Author Topic: Olympics Committee Says It Invested $5M in Madoff Scheme  (Read 1175 times)

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Offline bijou

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Olympics Committee Says It Invested $5M in Madoff Scheme
« on: December 20, 2008, 03:18:00 PM »
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LONDON —  The International Olympic Committee could lose nearly $5 million in investments tied to the Wall Street financier accused in a $50 billion financial scam.

IOC finance commission chairman Richard Carrion told The Associated Press the Olympic body has about $4.8 million at risk in the alleged Ponzi scheme by Bernard Madoff.

"That could be the maximum loss," Carrion told The Associated Press in a telephone interview from Puerto Rico, adding that the IOC's money wasn't directly in Madoff funds. "They're in funds invested in Madoff funds."

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Offline DumbAss Tanker

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Re: Olympics Committee Says It Invested $5M in Madoff Scheme
« Reply #1 on: December 23, 2008, 11:03:40 AM »
Looks like the pricetag for the bidders to host the next round of the Olympics just shot up by five big ones!

 :-)
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Offline Baruch Menachem

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Re: Olympics Committee Says It Invested $5M in Madoff Scheme
« Reply #2 on: January 08, 2009, 06:20:23 PM »
You know who I really wish was a big investor in Madoff?

I have a little list, they none of them really needed the money anyway....
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