On Tuesday, the Conference on Jewish Material Claims Against Germany (Claims Conference) will be holding its annual meeting in New York. Proceedings will be overshadowed by the recent exposure of a massive misappropriation of funds, which will be regarded as one of the ugliest Jewish organizational financial scandals in our time. The New York-based Jewish Week recently made the shattering disclosure that the FBI was investigating fraudulent misappropriation of at least $7 million, possibly substantially more, over the past decade from the Article 2 Fund created in 1995 by the German government to provide quarterly pensions to eligible Holocaust survivors. The task of administering the payments had been delegated to the Claims Conference. It had already been disclosed earlier in February that the Claims Conference had dismissed three employees, one of whom was the supervisor of the Hardship Fund. It appeared that $350,000 was involved and investigations into that fraud apparently led to the discovery of the far greater misappropriation from the pension fund. Had The Jewish Week not exposed the story, there is every likelihood that the public would not be aware of what had transpired.