The Brooklyn newspaper, The Jewish Press, falsely and inaccurately reported, in an editorial in its December 26th issue, that the Zionist Organization of America lost
$39 million due to investments with Bernard Madoff.
ZOA President, Morton A. Klein, said, The ZOA wants to make it clear that this Jewish Press report is completely false. The ZOA has never invested any funds with Bernard Madoff or any of his associates or feeder financial groups. We have not lost any funds whatsoever due to the Madoff scandal.
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The Zionist Organization of America, founded in 1897, is the oldest pro-Israel organization in the United States. The ZOA works to strengthen U.S.-Israel relations, educates the American public and Congress about the dangers that Israel faces, and combats anti-Israel bias in the media and on college campuses. Its past presidents have included Supreme Court Justice Louis Brandeis and Rabbi Dr. Abba Hillel Silver.