The Spectacle Blog

Madoff Associate Picower Dies

By on 10.26.09 | 12:21AM

Jeffry Picower, 67, an associate of embezzler Bernard Madoff, was found dead in his swimming pool.

Picower is alleged to have profited handsomely from Madoff's record-breaking pyramid scheme but that same fraud put Picower's charity, the Picower Foundation, out of business.

The left-leaning Picower Foundation gave away almost $213 million since 1999, according to a philanthropy database.

The giant foundation had the misfortune to choose Madoff to manage its more than $1 billion in assets.

A sizeable chunk of its funding has gone to abortion groups, including NARAL ($3.2 million), Center for Reproductive Rights ($2.5 million), Planned Parenthood ($2.4 million), and Center for Reproductive Law and Policy ($625,000).

Picower Foundation gave $2.9 million to the Southern Poverty Law Center, a public interest law firm that uses politically skewed definitions of racism to indoctrinate children while smearing conservatives who question racial preference programs. The foundation also gave $200,000 to Project Vote (a.k.a. Voting for America), an affiliate of the radical Association of Community Organizations for Reform Now (ACORN).

Send to Kindle

Like this Article

Print this Article

Print Article