Christian Subversion And Missionary Activities - 5

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<b>Madoff Scandal Ensnares Order of Patron Saint for Moralists</b> <!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Roman Catholic priests and institutions linked to the <b>Redemptorist society in the U.S. and Italy </b>appear on a 162-page client list of Bernard L. Madoff Investment Securities LLC, filed in U.S. Bankruptcy Court in Manhattan on Feb. 4. The religious order follows the teachings of Saint Alphonsus Liguori who preached about ethical behavior.

“The world is very hard, particularly in the manner of money,” said Stan Wrobel, a priest and treasurer at the Redemptorist headquarters in Rome<b>. “We can only pray </b>for the people who have been damaged and for the family of Madoff because they may need spiritual help, too.”

The 70-year-old investment adviser was arrested Dec. 11, 2008, on charges of defrauding investors of $50 billion. Madoff’s firm also worked with Jewish charities, universities and nonprofit groups including the Boston-based Carl and Ruth Shapiro Family Foundation; Yeshiva University in Manhattan; and the Jewish Federation of Greater Los Angeles

The Redemptorists, whose 5,400 priests and brothers work in 78 countries, haven’t disclosed how much they may have lost and are still tallying the sum, according to Treasurer Edmund Faliskie at the group’s Northeast U.S. office in Brooklyn, New York.

‘Significant’ Investment
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Saint Thomas Diocese
Other investors linked to the society include a pension fund at the Redemptorist Fathers’ regional headquarters in Brooklyn; the Saint Thomas diocese in the U.S. Virgin Islands and priests in Baltimore; New Smyrna Beach, Florida; and San Juan, Puerto Rico, according to the client list, which covered the year before Madoff’s arrest and was submitted by the trustee liquidating the investment adviser’s assets.

It would appear that much of the savings of the diocese and the endowment funds of St. Mary and St. Patrick schools have apparently been lost,” Bishop Herbert Bevard, who leads the Saint Thomas diocese, told parishioners in a Dec. 19 letter.

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