The International Olympic Committee could lose close to $5 million in investments because of the Madoff hedge fund scandal.
IOC finance commission chairman Richard Carrion said Saturday that the Olympic body had about $4.8 million tied to the multibillion dollar Ponzi scam by New York financier Bernard Madoff.
"That could be the maximum loss," Carrion told The Associated Press in a telephone interview from Puerto Rico, adding that the IOC's money wasn't directly in Madoff funds. "They're in funds invested in Madoff funds."
IOC spokeswoman Emmanuelle Moreau said the Madoff affair would have "limited impact" on the …
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