Madoff Ponzi scheme hits home
A Maine small business owner and conservationist has lost $2.5 million from Bernard Madoff's Ponzi scheme.
Daniel Goldenson and his wife, Suzanne, invested their retirement money in the Ascot Fund, which was then invested with Bernard L. Madoff Investment Securities, Madoff's now defunct firm, according to the Portland Press Herald. Madoff, a former Wall Street executive, paid returns to investors out of the principal paid by new investors that so far has cost investors $50 billion.
Goldenson recently launched an online business, Starting Out Inc., in Damariscotta, which offers career and life-management resources for young people. The loss of assets could delay his plans to use the proceeds of the new business for a fund to benefit young Mainers. He also plans cut back on his charitable work, which has included preserving land in the Bremen area and helping secure a grant for upgrades to the Bremen Lobster Co-Op lobster pound, the paper reported.
Goldenson and his wife appear to be the only Mainers affected by the Madoff scandal so far, according to the paper.
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