The Conservative Cave

Current Events => Economics => Topic started by: bijou on December 20, 2008, 03:18:00 PM

Title: Olympics Committee Says It Invested $5M in Madoff Scheme
Post by: bijou on December 20, 2008, 03:18:00 PM

Quote

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."

...

link (http://www.foxnews.com/story/0,2933,470646,00.html)

Title: Re: Olympics Committee Says It Invested $5M in Madoff Scheme
Post by: DumbAss Tanker 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!

 :-)

Title: Re: Olympics Committee Says It Invested $5M in Madoff Scheme
Post by: Baruch Menachem 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....