Forte — The Local Madoff?

It's always the quiet ones...

Who is Joe Forte? 

Well investors and acquaintances said he was not a “slick salesman,” according to an article in the Philadelphia Inquirer. Read: Fractured profile of local Madoff-type manager

The  story characterized Forte  as  a “quiet man” who never looked for accolades.  Now this quiet guy is smack in the middle of an investigation into what happened with more than 15 million he'd been given to invest for a Main Line foundation.

The head football coach at Malvern Preparatory School, Gamp Pellegrini, credits Forte with developing a great weightlifting program. Pellegrini said he is surprised by “all this other stuff that is coming out” about Forte.

Forte was also the assistant football coach at St. Anastasia’s for the last 10 years.

He is a member of the Catholic parish in Newtown Square, said Kevin Mulligan, a spokesman for the Archdiocese of Philadelphia.

But, apparently Forte had internal motives.

Investors received a letter that was dated December 31 from an accountant who sends quarterly reports to Forte’s investors stating that Forte  "confessed."   But just what he confessed to is another story, a confusing and unclear one at that.

Right now, no one seems to have a clear answer to the question of what exactly happened to ALL THAT MONEY Forte was managing.

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