Laborers Local 210 takes hit in Madoff scandal
- By Michael Beebe, The Buffalo News
CNBC reported earlier this month that Carpenters Local 747 in Syracuse had invested between $100 million and $150 million of its pension funds with Madoff.
The business network also reported that Plumbers and Steamfitters Local 267 in the Syracuse area has lost $48 million of its pension funds, and other Syracuse-area unions representing roofers and operating engineers also reported losses.
Local 210’s pension board said the union had money invested directly with Madoff’s firm, and through investments managed by Madoff.