NEW YORK — A charitable foundation of former Stop & Shop owners Avram and Carol Goldberg was among the investors in the Bernard Madoff "Ponzi" scheme that lost about $50 billion, according to reports.
It was not clear how much the Goldbergs, the second generation of the Stop & Shop founding family, had invested with Madoff, who was arrested last week after admitting that he generated return on his massive funds not by investing but by paying off old clients with new clients' investments.
A spokesperson for the Goldbergs could not be reached for comment. Two other charities were wiped out by the implosion of the Madoff fund, according to reports.
Read More of Today's Headlines