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Brian C. Rabbitt

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Madoff Ponzi Scheme Victims To Get Nearly $500M More In Distributions Madoff Ponzi Scheme Victims To Get Nearly $500M More In Distributions
Madoff Ponzi Scheme Victims To Get Nearly $500M More In Distributions Thousands of Bernie Madoff’s Ponzi Scheme victims will be receiving their portions of the latest distribution of nearly $500 million. Acting U.S. Attorney for the Southern District of New York Audrey Strauss announced that the Madoff Victim Fund will be distributing approximately $488 million to more than 37,000 of his victims involved in the fraud scheme. To date, approximately $2.7 billion has been distributed to Madoff’s victims. Strauss said that this sixth payment will bring the victims’ total recovery to 80.05 percent of their losses. Ultimately, more than $4 billion will be returne…

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by Zak Failla