DC Trawler

MMFA: Media Matters For America, or Madoff Made Financing Available?

Or both?

Media Matters for America accepted funding from at least three foundations whose money “grew” under the fraudulent stewardship of the now-incarcerated Bernard Madoff. One of those foundations was backed by a man many believe was in cahoots with the legendary financial criminal.

Madoff’s Wall Street empire crumbled in late 2008 after federal authorities were tipped off to his multibillion-dollar Ponzi scheme.

Among those institutions that saw their fortunes evaporate were foundations that had placed their trust and investments in Madoff’s surreal enterprise. Three of those philanthropies contributed money to Media Matters in 2008, at least one of which may have even been complicit in Madoff’s scheme…

$365,000 in all. Read the whole thing. Do you suppose MMFA will give back the money? If not, why not?