Bard College lost $3 million in Madoff scheme
Friday, January 16, 2009 : PermalinkDaily Freeman – Bard College said on Thursday that it lost about $3 million in investments tied to disgraced Wall Street financier Bernard Madoff.
Bard spokesman Mark Primoff said the losses came in the Northern Dutchess school’s $270 million endowment fund.
Primoff said the college invested in the Ariel Fund run by J. Ezra Merkin, who was a governor of Bard’s Levy Economics Institute until his recent resignation. Primoff said Merkin never told the board he was investing the money with Madoff.
Tags: ariel, bard college, bernard madoff, daily freeman, dutchess school, economics institute, endowment-fund, ezra, financier, investments, levy, losses, merkin, money, northern dutchess, resignation, spokesman, wall street
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