Saturday, January 10, 2009

Bernard Madoff: DreamWorks chief Jeffrey Katzenberg says loss is 'humiliating' - Telegraph

Bernard Madoff: DreamWorks chief Jeffrey Katzenberg says loss is 'humiliating' - Telegraph

In an interview with CNBC, Katzenberg, who was not specific about the size of his losses, said it was a "disgrace" that Madoff was currently free on bail adding that his own losses have done "extraordinary damage" to his philanthropic efforts.

"The first time I heard the name Bernie Madoff was about three weeks ago," he said. "What it has done to other people is terrible. It's destroyed many people's lives. People that I know."

Madoff, 70, a former chairman of the NASDAQ stock exchange, was arrested by the FBI on December 11 and charged with securities fraud after he allegedly told senior executives at his New York-based firm that the funds under his management were "basically a giant Ponzi scheme".

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