Monday, December 15, 2008

First Madoff-Related Charity Forced To Close

The programs of the Robert I. Lappin Charitable Foundation and the Robert I. Lappin 1992 Supporting Foundation are discontinued, effectively immediately. This includes Youth to Israel and Teachers to Israel.

The money used to fund the programs of both Foundations was invested with Bernard L. Madoff Investment Securities and all the assets have been frozen by the federal courts, according to the Foundation web site.

The Foundation staff has been terminated.

“It is with a heavy heart that I make this announcement,” said Robert I. Lappin, Foundation trustee. “The Foundations’ programs have touched thousands of lives over many years in our efforts to help keep our children Jewish.”

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