W.Va. Hospital Among Madoff Casualties

The $50 billion Ponzi scheme allegedly orchestrated by Bernard Madoff included West Virginia in its scope, The Charleston Gazette reports.

Charleston Area Medical Center lost $200,000 in the apparent scheme while its foundation is out another $800,000, the newspaper reports.

"It's an actual loss we're recording," Larry Hudson, CAMC's chief financial officer, is quoted as saying. "It's an operational loss we'll have to work with."

"A growing number of prestigious charitable foundations, international banks and individuals have acknowledged falling victim to what is alleged to be the largest financial fraud in history," the article said. "CAMC officials plan to discuss the $1 million loss when the hospital's Board of Trustees meets Jan. 28"