The Elie Wiesel Foundation for Humanity announced today that it is the latest victim of the historic alleged fraud by Bernard Madoff.

Elie Wiesel is the author of the classic book “Night,” which chronicles his personal experiences in the Holocaust. He is also a former winner of the Nobel Peace Prize. Today, the Elie Wiesel Foundation for Humanity, a charitable foundation dedicated to helping refugees and Ethopian Jews, revealed that it had invested over $15 million through Bernard Madoff. That amount represented virtually all of the foundation’s assets. Essentially, the Foundation no longer has any funds to continue its charitable pursuits.

As we reported here, Bernard Madoff’s alleged fraud is reportedly in the neighborhood of $50 billion. According to state prosecutors, Madoff ran a hedge fund that had allegedly become a giant Ponzi scheme. If the criminal allegations are true, the fund was not investing in any securities that could make its investors money in the future. Allegedly, the Madoff engineered the hedge fund so that later investors were suckered into pouring money into the bank accounts of early investors like Madoff.

In the past few days, several high profile investors like Frank Lautenberg, Steven Spielberg and Mortimer Zuckerman have revealed that they lost money by investing through Madoff. Many of Madoff’s investors knew Madoff personally and trusted him with their life savings. Prior to the fraud charges, Madoff was one of the most well-known and respected members of the Wall Street community.

The Elie Wiesel Foundation is the first major charitable organization to reveal that it had lost its assets because of Madoff’s fraud. The full ramifications of this historic fraud are still unknown. Many other organziations and individuals may discover in the coming days and weeks that they are now financially ruined because of Madoff’s alleged fraud. Happy Holidays!

As we reported here, a fund manager who invested heavily in Madoff’s hedge fund committed suicide yesterday.

Currently, Madoff is out on $10 million bail and living in his Manhattan penthouse. Reportedly, his own sons were the ones who turned Madoff in to authorities after Madoff admitted to them that his hedge fund was a Ponzi scheme.