Booker Prize Backer Had $360 Million Invested with Bernard L. Madoff

The Man Group, an investment firm that sponsors the annual Man Booker Prize, had $360 million invested in Bernard L. Madoff‘s allegedly fraudulent firm that may have lost up to $50 billion in investor’s money.

From the NY Times: “Jane Acton, a spokeswoman for the Man Booker Prize, told Bloomberg, ‘There’s absolutely no reason to suggest that there would be any difference to the sponsorship deal we have at the moment.’”

This year, Aravind Adiga won the prize for the novel, The White Tiger. The prize recently increased to $71,000 from $30,000 in previous years. (Via PW.)

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