Fair 59°
Tag:

Asset Recovery

News
New Distribution Of More Than $378M Allotted To Madoff Ponzi Scheme Victims New Distribution Of More Than $378M Allotted To Madoff Ponzi Scheme Victims
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…

SHARE

by Zak Failla
News
Madoff Ponzi Scheme Victims To Get New $469M Distribution, Bringing Payout To $2.4B Madoff Ponzi Scheme Victims To Get New $469M Distribution, Bringing Payout To $2.4B
Madoff Ponzi Scheme Victims To Get New $469M Distribution, Bringing Payout To $2.4B Thousands of Bernie Madoff’s Ponzi Scheme victims will see some more relief as the Department of Justice begins the latest distribution of more than $469 million. This week, the Madoff Victim Fund, which was established by the DOJ, began distributing $469.6 million in additional funds that were forfeited to the government in connection to Madoff's scheme. The money will be distributed to more than 27,000 victims, bringing the total to approximately $2.4 billion. The latest distribution marks the fourth in a series of payments from the Madoff Victim Fund as part of Madoff’s fraud, which tot…

SHARE

by Zak Failla