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Until the end of last year Bernard Madoff was a highly respected financial guru and long time advisor to America's rich and famous. Then on Thursday the twelfth December 2008 he was exposed as a major crook.
His 'Ponzi' scheme is probably the largest ever pyramid fraud in US history. Amongst his victims there were not only individuals and banks but also charities.
For Assignment, James Coomarasamy looks at the damage he has done to two charities in particular - The JEHT Foundation and the Picower Foundation.