A foundation established by the family who made more money from Bernie Madoff’s fraud than anyone else – including Madoff himself – is funding climate lawsuits aimed at implementing the disastrous Green New Deal.
Barbara and Jeffry Picower, a lawyer and accountant who managed tax shelters, were the single largest beneficiaries of Madoff’s Ponzi scheme. They made more than $7.2 billion by withdrawing other investors’ money from Madoff’s Ponzi scheme, according to court documents from the Madoff case.
It has long been believed that the Picowers were aware of Madoff’s scheme. Picower, an experienced investor, likely would have found it strange for one of his accounts to see 950% returns in a single year. Two other accounts reported annualized returns of 100% between 1996 and 1999.
“Picower benefited tremendously from Madoff’s fraud and is not a victim,” Irving Picard,…
