ABSTRACT
Phase I — Situation You are one of the many senior-level administrators of some of the important Jewish non-profits in the country. Millions of dollars of your donors’ funds were invested in the Bernie Madoff firm when the FBI arrested Madoff in December 2008 for one of the largest Ponzi schemes in the history of the United States. The year 2008 happened to be when Madoff’s massive Ponzi scheme came to light. In the two years that followed, at least 13 Jewish organizations experienced financial losses. Several of the organizations provided explanations of the losses. Yeshiva University’s 2008 financial returns noted that Madoff was a former university trustee and described how multiple investments wended their way into Madoff’s portfolio, eventually adding up to $95 million loss. The return also described the steps taken by YU in response.
