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38°
Thursday, dec 5
Tag:
Crime Victims’ Rights Week
News
New Distribution Of More Than $378M Allotted To Madoff Ponzi Scheme Victims
Thousands of Bernie Madoff’s Ponzi Scheme victims will be receiving their portions of the fifth distribution of more than $378 million this week. U.S. Attorney Geoffrey Berman announced that the Madoff Victim Fund will be distributing $378.5 million to more than 26,000 of his victims involved in the fraud scheme. To date, approximately $2.7 billion has been distributed to Madoff’s victims. Berman said that the fifth payment will bring the victims’ total recovery to 73.65 percent of their losses. Ultimately, more than $4 billion will be returned due to losses suffered in Madoff’s Ponz…