After details of the Bernie Madoff Ponzi scheme came to light, many observers questioned why someone who had donated so much money to worthy causes would concurrently destroy many charities through his fraudulent actions. Madoff’s family foundation had donated over $19 million to various health care, cultural, religious and educational charities. He also contributed about $6 million to lymphoma research. Yet, Madoff’s firm, Bernard L. Madoff Investment Securities LLC, was simultaneously orchestrating a massive investment fraud that destroyed a multitude of charitable foundations and resulted in massive losses for many others.

Rather than being a rare occurrence, this odd partnership of corporate wrongdoing and philanthropy has been quite common. The following is a list of ten well known examples:

1. Bernie Ebbers, Founder and former C.E.O. of Worldcom: The man behind Worldcom’s financial deception that cost investors about $100 billion was convicted of fraud and conspiracy in 2005. Yet, prior to his convictions, Ebbers had donated over $100 million dollars to various charities, though approximately $35 million of this related to his Worldcom stock, which had achieved great value due to Ebbers’ wrongdoing. Ebbers is currently serving a 25 year prison sentence and will not be eligible for release until 2028 when he will be 87 years old.

2. Cliff Baxter, former Vice-Chairman of Enron: Baxter pled guilty to various counts of fraud and conspiracy in connection with the Enron accounting scandal that preceded its bankruptcy. He was known for his generous donations to organizations such as Junior Achievement of Southeast Texas, the American Diabetes Association, the American Cancer Society and Sunshine Kids, a charity dedicated to providing activities and trips for young cancer patients. Baxter committed suicide in his car in 2002 in the wake of the Enron debacle. He was 43.

3. Ken Lay, former C.E.O. and Chairman of Enron: Lay was found guilty of ten counts of securities fraud and related charges in 2006 for his role in Enron’s accounting scandal. He had donated more than $2.5 million to more than 250 organizations through his family’s foundation and was behind Enron’s policy of donating 1% of its profits to local charities. Lay died of a heart attack while awaiting sentencing.

4. Dennis Kozlowski, former C.E.O. of Tyco International: In 2005, Kozlowski was convicted of grand larceny, securities fraud and other crimes related to his receipt of $81 million in unauthorized loans and bonuses, improper payments and Tyco’s fraudulent financial disclosure. He gave generously to charities, though $106 million of his donations were made with Tyco’s money. He is eligible for parole in 2014.

5. Michael Milken, financier known as the junk bond king: Milken was charged with 98 counts of racketeering and securities fraud in 1989. He reached a plea bargain agreement whereby he admitted guilt to six securities violations and was sentenced to ten years in prison. He also paid a $600 million fine. Milken was released after serving just two years behind bars. At the time of his misdeeds, Milken was known as a generous philanthropist. His Foundation of the Milken Families has donated millions of dollars to various causes including $60 million dollars in educator awards and sizable donations to educational institutions such as the University of Pennsylvania and charities such as the United Way. His philanthropy has led to a Fortune Magazine cover story calling him “The Man Who Changed Medicine” due to his large health care donations.

6. Richard M. Scrushy, founder and former Chairman and C.E.O. of HealthSouth Corporation: Scrushy was convicted of bribery and mail fraud in connection with payments he made to Alabama’s governor in exchange for appointment to the state board that regulated hospitals. He was sentenced to 82 months in federal prison and was fined $2.87 billion. Scrushy co-founded Computer Help for Kids, a charity that collected, refurbished and donated computers to school students and community groups. He also established a ministry to feed African children, though this occurred as he was awaiting trial. Scrushy is appealing his conviction.

7. Lord Conrad Black, former C.E.O. of Hollinger International: Black was convicted of mail fraud and obstruction of justice in 2007 and was sentenced to 78 months in prison. He is currently out on bail pending a Supreme Court review of his case. His Black Family Foundation has donated millions of dollars to charities, including $3.4 million to Toronto’s Hospital for Sick Children and significant amounts to various educational institutions.

8. John Rigas, founder and former C.E.O. of Adelphia Communications Corporation and majority owner of the Buffalo Sabres ice hockey team: Rigas was convicted of multiple counts of fraud and tax evasion for concealing $2.3 billion in liabilities from shareholders and making personal use of corporate funds. When these misdeeds were uncovered, many people came forward to provide anecdotes portraying Rigas as a giving person who constantly helped needy neighbors. However, many of Rigas’ donations were made with Adelphia funds. At his sentencing, Rigas pled for leniency and noted his charity work. The judge responded by stating, “To be a great philanthropist with other persons’ money is not very persuasive.” Rigas was sentenced to 15 years in prison. He is scheduled to be released in 2018 when he will be 93 years old.

9. Ivan Boesky, businessman and stock trader: Boesky became famous by amassing a fortune by trading on inside information regarding pending corporate takeovers. He admitted to insider trading through a plea arrangement that involved him testifying against Michael Milken. He was sentenced to 3.5 years in prison and paid a $100 million fine. Boeksy became involved in insider trading schemes even though he had more money than he could spend at the time. Boesky donated $20 million for the Jewish Theological Seminary’s library that was named for him.

10. Gary Winnick, founder and former Chairman of Global Crossing Limited: Winnick made over $700 million by selling his shares of Global Crossing shortly before the company collapsed. While the SEC decided not to bring charges against him, shareholders brought a class action lawsuit against Winnick and others alleging fraud. The defendants settled the lawsuit by paying the shareholders $325 million. Winnick, to his credit, also donated $25 million to employees who lost their 401K’s as a result of Global Crossing’s demise. Through his family foundation, Winnick funded the Winnick Family Clinical Research Center at Cedars-Sinai Medical Center. He also donated $40 million for the Simon Wiesenthal Center’s international conference center in Jerusalem and funded various scholarships.

Why would all these men who were accused or convicted of fraud or criminal activity also have philanthropy as a common denominator? One key factor is that these businessmen all generated millions of dollars through their actions and had the means to make sizable donations without impacting their standard of living.

Other explanations delve into the psychological realm. For some, making these gifts was a means to attaining greater notoriety. Donations were often publicized and, as in the case of Boesky and Winnick, often led to buildings or scholarships bearing the name of the donor. These businessmen may have simply wanted to draw attention to their generosity. It is also likely that many of these fraud artists also saw charity as a means for offsetting the guilt that they harbored for the harm they had caused investors and others by perpetrating their scams. They felt that if they did something supererogatory with their funds, this would make their ethical transgressions more acceptable.

With respect to Bernie Madoff, I do not believe that he ever set out to create a Ponzi scheme that would ultimately be exposed. It is more likely that his firm was unable to provide the investment returns that Madoff had promised and dipped into other investors’ funds rather than admit to clients that he missed expectations. However, instead of replacing these lost funds with excess future gains, the deficit grew larger until it was insurmountable. Thus, Madoff never intended to bankrupt these charities. It was an unintended consequence of his inability to admit failure to his clients and friends. However, regardless of his true motives, the fact remains that Madoff’s fraud destroyed many charitable organizations. He now joins these other businessman that have mixed fraud and philanthropy. Welcome to the list, Bernie Madoff.

Car Speakers Reviews

Car donation is a noble gesture, as it's life can make a difference in someone. Most Catholic charity houses depend solely dependent on donations. Many people donate money or clothes to donate to charities, but a car is something that is quickly picking on. Can you donate a car to get rid of an old car can also be stressful and some savings on your tax forms.

Car donations to some Catholic charities are taxDeductible. You can use 's claim the car market value, if the car is worth less than $ 500, or if it is a condition in good operating condition. You can drive to claim deduction of the real price of the car is worth more than $ 500. The Charity House, a qualified and 501 (c) 3 IRS registered charity since only such programs are tax deductible. Information about such charity programs can be obtained from the IRS website or in the output 78, thatis in most public libraries.

Find the value of the car meant for donation. This can be done by checking the blue book value. Take the condition of the car into consideration while determining its value. Most organizations take donated cars for free, but there are some fees to collect certain. Make sure the title for the car.

These days, charity donation car has become a Catholic with very simpleOnline donation forms, simple processing and special services from the Charity-house, such as vehicle pick-up and Breakdown. The forms can be completed online and all correspondence can be made by phone or e-mail. Once the car is taken, you'd get a receipt, a letter about the donation and a form from the IRS 8283 for "Non-cash Charitable Contributions."

Car charity organizations, the Internet will be online on or they can also be found inYellow pages or through advertisements.

Car Speakers Reviews

“You are so cheap you squeak!”, “She can make the buffalo on a nickel scream”. We have all heard jokes about people who are thrifty (or downright cheap). But being cheap is not a bad thing.

Did you know that some people have never been in a $1.00 store? Seriously. They have no idea that there are actually stores that sell nearly everything you can buy at any of the large chain stores or grocery stores for only $1.00. I was a little surprised myself to discover the extent of the stock in one of these stores. There are $1.00 stores that have walls of freezer space and sell frozen foods. Pizza for $1.00? Who would have thought?

You can buy your wrapping paper and supplies at the $1.00 store. They have wrapping paper for all holidays and any occasion. They also have boxes, ribbon, greeting card and even mylar balloons. If you watch on Tuesdays (check with your $1.00 store to see when their truck comes in) you can get first look at the new items for the shelf. Christmas and birthday gifts can be purchased without spending a fortune. Even a child can afford to shop there. It’s the one place I can think of that your child can get his/her money’s worth for his $1.00 allowance. You just have to pay the tax. It’s a bargain (like everything else in the store). If you have to buy gifts for bridge parties, check out the $1.00 store. Need prizes for the birthday party? Say no more; to the $1.00 store!

Where else can you save money; get more for less? Thrift stores! Remember when Vice Presidential candidate Sarah Palin admitted that she bought her clothes at the local thrift store? You can get really good deals if you know what you want. Many thrift stores receive donations of the past season’s styles before the temperature changes. Stock up on brand new, never worn items at an insignificant price. Need furniture for your college student’s first apartment? Thrift stores offer eclectic styles at bargain prices. Every college kid wants to pretend he/she lives in Soho or the Village.

Yard sales, garage sales and jumble sales are great places to test out the saying “one man’s trash is another man’s treasure”. Then, there is always the world’s largest garage sale, eBay. What you can’t find on eBay probably was never made. And you can sell things you don’t need any more to pay for what you are buying. On eBay you can even get amazing bargains on cars, houses, and vacations.

If you grew up on hand-me-downs and swore you would never have anything that wasn’t new, get over it. A hand-me-down Chanel original isn’t the same as wearing Mary Jane’s old jeans.

Want things to do with your kids that don’t cost at lot? How does “free” sound?

1. Most libraries have an after school craft day. Sign up your kids and take them. They get to do a fun craft and it’s free.

2. Sign up for the summer reading program at the library. They have weekly prizes and have weekly programs with visiting speakers such as magicians, animals.

3. Check with the local movie theaters and see if they offer a weekly free movie. Usually they will have three to choose from that are suitable for ages 3-12. Parents don’t pay for the movie for themselves or the kids but do have to buy popcorn, snacks, and drinks.

4. Check with the local museum to see if they have a free local resident’s day in the summer.

5. Take your kids on a scavenger hunt in the park.

6. Let your kids have a special slumber party night with either parent where they and the parent play games, watch movies and have fun.

7. Have a family movie night. Rent movies from the library. That way, everything is free.

Being a discount diva is a title you earn cutting financial corners wherever possible. And you can have a little fun while you do it.

Car Speakers Reviews Motor Oil Reviews

Charities, community groups and other not for profit organisations do amazing work which in the majority of cases benefit our local communities and indeed world in which we live. And much like other types of business, charities have suffered in recent times due to less money being given to charitable causes, falling donations of stock to charity shops and a general need for many people to cut costs. For this reason, many charities have ceased trading and those that remain are now having to reduce they amount they spend on services such as charity insurance.

The trouble some charities may face when looking to cut costs is that from certain insurance providers, they are quoted and sold an insurance policy that has not been designed specifically for charities, youth organisations or community groups. Whilst this may not necessarily be a big problem, it does sometimes mean they can end up with cover that they do not necessarily need or want. And as you can imagine, they end up paying for it. Another such problem is the insurance broker or insurance company the charities use might not really understand the charity sector. It is possible a charity will use their local broker but by doing so, they may risk not getting the expert advice from a broker who specialises in dealing with charities.

And it is by using a specialist charity insurance broker that charities could really benefit and make a sizeable saving on their charity liability insurance premiums. There are two main reasons for this and they are, firstly, the broker will understand the market and will be able to make expert, professional recommendations when it comes to the right cover and right policy. This could actually mean your charity could actually end up with more cover and better protection for less money.

The second reason how insurance for charities could be obtained for much less by using a specialist broker is that they often have facilities, cover and premiums that are simply unavailable from non specialist brokers. This means you could ring your local broker as well as a charities insurance specialist and get two completely different premiums even if the cover is exactly the same.

It is clear that recent years for the charitable sector have been tough but charities can survive, prosper and grow. For many, charity insurance is not the most exciting thing but it is an essential purchase and if charities are looking to cut costs, help could now be at hand.

Car Speakers Reviews