Frist Center endowment lost $1M with Madoff

NashvillePost.com has learned that the Frist Center for the Visual Arts Foundation is a victim of disgraced investor Bernard Madoff's $50 billion Ponzi scheme.

In its most recent Form 990 filed for the year 2007, the foundation showed a $1.047 million position in the Maxam Absolute Return Fund.  On Monday, that fund, which had all of its $280 million invested with Madoff, made headlines by suing its auditors for not sniffing out the fraud.