Madoff Messes it up; Major Sustainable-Food Foundation Collapses-

For a couple of years, there has been lots of buzz in the sustainable-food world about the Fair Food Foundation of Ann Arbor, Mich.

Fair Food was founded recently by Oran Hesterman, under whose leadership the Kellogg Foundation became the key funder in the sustainable-food space. Kellogg has been pulling back from that space; Fair Food, which was gearing up to begin giving $20 million per year, was expected to fill the void.

Today brings a stunning announcement: Fair Food is closing down. In an email message I obtained from the Comfood listserv, Hesterman wrote that the funds of the foundation's main donors had been managed by Bernard Madoff, the financial operator who has been accused of defrauding his clients of billions of dollars.
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Related:
Madoff's Auditor...Doesn't Audit?
Madoff's Wife Surrenders Passport, Now Under SEC Investigation
"How I Got Screwed By Bernie Madoff"


http://www.huffingtonpost.com/2008/12/18/major-sustainable-food-fo_n_152134.html