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City police, fire staff hit by Madoff

Millions in pension funds lost through disgraced investor

January 03, 2009|By Julie Bykowicz , julie.bykowicz@baltsun.com

The endowment fund of the Jewish Federation of Greater Washington, also based in Rockville, had more than $10 million invested with the now-defunct Bernard L. Madoff Investment Securities. The Associated: Jewish Community Federation of Baltimore was not affected, officials said.

Another casualty of the scandal is the JEHT Foundation, based in New York. JEHT was established in 2000, according to its Web site. Madoff managed the foundation's money.

The Job Opportunities Task Force, a Baltimore group that advocates for low-income workers and job seekers, has received money from JEHT for at least four years, said the group's director, Jason Perkins-Cohen, including $115,000 last year.

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Perkins-Cohen said the group does not have any outstanding grants with JEHT but was sad to see it go under.

"This is a huge loss for the nation," Perkins-Cohen said. "JEHT was one of the few organizations helping people overcome their criminal background. When that support is lost, it's just devastating."

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