Givat Shmuel, Israel – Synagogue To Sell Name on EBay as Madoff Losses Reduce Donations

    3

    Givat Shmuel, Israel – A Jewish community is tapping EBay Inc. to raise money for the construction of a synagogue on the outskirts of Tel Aviv, after donations were cut short because of the losses incurred by Bernard Madoff.

    Join our WhatsApp group

    Subscribe to our Daily Roundup Email


    The Rinat Hadar congregation, which includes 100 families, was only able to raise about 2 million shekels ($470,000), or a fourth of the estimated construction cost of the project in Givat Shmuel, Israel, according to Uri Waisbord, a member of the synagogue’s board. Unable to raise funds abroad, the board turned to EBay, the largest Internet auctioneer. The starting bid, at $600,000, offers “a synagogue named after your loved ones.”

    Madoff, the New York money manager accused by the U.S. of running a $50 billion Ponzi scheme, has worked with Jewish charities, universities and nonprofit groups including the Boston-based Carl and Ruth Shapiro Family Foundation; Yeshiva University in Manhattan; and the Jewish Federation of Greater Los Angeles.

    “We found that people who used to donate money to Israeli institutions in the past are now thinking twice before they do it and are being much more careful in the aftermath of the Madoff losses,” said Waisbord.

    The synagogue, where construction started in the last few days, will be the second-largest in Givat Shmuel.


    Listen to the VINnews podcast on:

    iTunes | Spotify | Google Podcasts | Stitcher | Podbean | Amazon

    Follow VINnews for Breaking News Updates


    Connect with VINnews

    Join our WhatsApp group


    3 Comments
    Most Voted
    Newest Oldest
    Inline Feedbacks
    View all comments
    Anonymous
    Anonymous
    15 years ago

    If I hadn’t lost most of my money in the market I’d bid to name the shul after my schvuger…

    bitachon
    bitachon
    15 years ago

    Hey, I’ll let you name my house for a paltry half a miilion dollars(not sheks) with a big sign in the front displaying your name. Start bidding with an opening bid of 250,000.

    Anonymous
    Anonymous
    15 years ago

    good luck with ebay . dream on . this world is in a recession . wake up !!