Salina, New York (WSYR-TV) - About 70 union members packed the Carpenters Union Hall in Salina Tuesday night. It was scheduled to be a regular union meeting, but members demanded answers to their questions about the money that was lost through the Bernie Madoff scandal. Tuesday evening, members told NewsChannel 9 that the union's executive board is under a gag order from the business manager Pat Morin, so members still don't know much about where their money is, or how much money has been lost. We've got to find out where we stand, says Dick Schneider, a carpenter of 29 years. All the other locals [affected by the scandal] know where theyre atwe have absolutely nothing were not being told anything, and guys are really starting to get upset -- myself included.
Another meeting is scheduled for March 10 at 5:00 at the union hall in Salina. Carpenter's Union forms investigation committee Members of a local Carpenter's Union caught up in the Bernard Madoff investment scandal say their questions are going unanswered by leadership and they're growing frustrated. Our Giselle Phelps reports on how they plan to get the answers they're looking for. Members of the Carpenters Local 747 Union had their retirements robbed in Bernard mMadoff's alleged Ponzi scheme. Now a gag order prevents them from knowing what happens next.
One month after carpenters in the local 747 union were told they'd finally get answers, all they got as they entered their union headquarters was a sign that read "no new information." Dick Schneider, a retired union member, says "All the other locals in the area. All the other trades know where they're at and how much they've lost. We have absolutely nothing." In the packed meeting, officials read aloud a gag order, adding another frustrating twist to the 150 million dollar question: Where's our pension fund? Union member Kevin Whalen says, "It does seem weird. Our reps represent us and they put 'em on a gag order. But what are ya going to do? We have to take it day by day." The union invested its retirement funds with disgraced financier Bernard Madoff who's accused of a complex Ponzi scheme that scammed investors out of billions. And Downstate union leaders remain silent about what happens next. Schneider says, "They're not letting out any information they have. Now why not. It just blows my mind and the only conclusion I can come up with is that they are trying to cover something up." Out of today meeting, 747 members formed a committee to hire attorneys to represent the union. They hope that when the Madoff scandal is settled in court, some of the money will be returned. It was announced yesterday that the Securities and Exchange Commission reached an agreement with Bernard Madoff that could eventually force him to not only pay a civil fine, but return whatever money he has left to investors.
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