Del. prep group invested with Madoff

February 16, 2009 9:54:32 AM PST
A private prep school in Greenville says it invested with a mutual fund that appears to have invested with Bernard Madoff. Tatnall School spokesman Michael Morgan says the mutual fund appears to have invested some of the school's money with Madoff, but declined to disclose the amount. He says any losses were minimal.

Madoff, a Wall Street investment adviser, is accused of masterminding a $50 billion investment fraud.

The school does not appear on a list of 13,500 of Madoff's customers. But six investors with Wilmington-area address do appear on the list, including four partnerships with post office boxes north of Wilmington and a limited partnership and a charitable trust with offices in downtown Wilmington.

---

Information from: The (Wilmington, Del.) News Journal, http://www.delawareonline.com

CLICK HERE to follow Action News on Twitter

CLICK HERE to get Action News on your website

CLICK HERE to find Action News on Facebook

Click here to get the latest Philadelphia news and headlines from across the Delaware and Lehigh valleys.


Load Comments