Trustee Seeks Billions for Madoff Investors

The billionaire financier and philanthropist Jeffry M. Picower’s will instructs that the bulk of his estate be used to establish a new charitable foundation to replace the one he and his wife shut down last year due to losses in the Bernard L. Madoff investment fraud. The new foundation's direction? Primarily to benefit medical research. He also left $1-million each to the New York Public Library, the Harlem Children’s Zone, and the Nurse-Family Partnership.

Full text article by Diana B. Henriques is available via The New York Times, 11/9/09.