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Source: Trustee Targets Wilpon Charity

March 14, 2011 – In The News

Michael J. Kline explains how Wilpon-associated charities appear to have benefited from the Ponzi scheme, in addition to actual family members.

“I had written about six months ago about the Judy and Fred Wilpon Family Foundation, which they started, which you can get the tax returns from online because they’re matters of public record as a private foundation,” Kline said. “In the 2008 one, filed in 2009, it’s interesting. It indicates a loss – they filed that they were victims. And what was interesting, if you look more closely, it appears the foundation got distributions of $1 million more than the foundation actually paid into Madoff on a separate form they attached.”

This news was also featured on ABC and its affiliates.