Scandal dampens Boston hospitals' galas
Boston Globe, December 18, 2008
An near-altercation last weekend between Robert Jaffe and 9 West founder Jerome Fisher dampened a society party at Donald Trump’s Mar-a-Lago Club in Palm Beach- FL. Jaffe had recruited investors for Bernard L. Madoff, the money manager who has admitted to a Ponzi scheme in which he lost $50 billion of his clients’ money—among them was Fisher. He was reportedly upset by Jaffe’s presence at the event. The situation highlights how the Madoff scandal has upended a crucial part of fund-raising for many of Boston's hospitals. For years, the hospitals have gone to Palm Beach seeking donations from rich donors. The hospitals hold lavish events at hotels and private parties at homes in an effort to attract donations, but now, with many donors out millions, that strategy is being reevaluated.