Texas treasury lost $19.5M to Madoff
from The Houston Chronicle
The Texas treasury lost $19.5 million through an investment in the Ponzi scheme run by convicted financial swindler Bernard Madoff. The money was part of a $224.5 million investment the Texas Treasury Safekeeping Trust Co. had with a Texas-based hedge fund called Austin Capital Safe Harbor. Austin Capital closed in May because of losses it suffered in one of Madoff's scam investment funds.
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