Madoff's Trickle-Down Victims

As foundations are rocked by the Madoff scandal, philanthropic programs face unnatural and untimely deaths

Kids in Texas jails seem like unlikely victims in Bernard Madoff's alleged $50 billion Ponzi scheme, a world away from the country clubs of Palm Beach, Fla., where Madoff recruited many investors. But youth offenders in the Lone Star State and others—where conditions in juvenile centers have caused a scandal—are likely to suffer as a consequence of the fraud Madoff is accused of perpetrating.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.