Digital Dharma

The Middle Path, One Day At A Time

Virgin Islands Diocese, Schools Suffer From Madoff Scam

Leave a comment – Indianapolis Business Journal – USVI diocese loses $2 million in Madoff scheme

Wish I believed in hell.  Madoff could go there and clear burning Bushes.

Roman Catholic schools in the U.S. Virgin Islands will have to turn away parents seeking financial aid for their children because of losses in a multibillion-dollar Ponzi scheme, church officials said Wednesday.

The Diocese of St. Thomas lost nearly $2 million on investments made with disgraced Wall Street financier Bernard Madoff, most of which represented endowment funds for youngsters at two Catholic elementary schools in St. Croix, the poorest of the U.S. Virgin Islands.

Author: Bill

Stumbling down the Middle Path, one day at a time.

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