The second largest foundation in Florida, the Picower Foundation, which gave out $270 million over the last two decades was wiped out with the Madoff scandal. It's supposed $1 billion dollars is now gone.
http://www.palmbeachpost.com/localnews/content/local_news/epaper/2008/12/20/picower20.html?imw=Y
Jeffrey Picower has been self dealing, and involving himself with shady dealing for the better part of two decades.
http://www.forbes.com/forbes/2002/1014/068_print.html
How ironic is it then, that he was taken by Madoff?
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