Complete Story


Manhattan U.S. Attorney Announces Additional Distribution Of More Than $469 Million To Victims Of Madoff Ponzi Scheme

Department of Justice

Geoffrey S. Berman, the United States Attorney for the Southern District of New York, Attorney General Bill Barr, Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division, and William F. Sweeney Jr., the Assistant Director-in-Charge of the New York Field Division of the Federal Bureau of Investigation (“FBI”), announced today that the Madoff Victim Fund established by the Department of Justice began its fourth distribution to victims funds forfeited to the United States Government in connection with the Bernard L. Madoff Investment Securities LLC (“BLMIS”) fraud scheme.  The distribution will include $469.6 million in additional funds, bringing the total distributed to date to approximately $2.4 billion.  The funds will be sent to more than 25,000 victims worldwide, the fourth of four payments to victims that will bring their total recovery from all source of compensation to 66.85% of their losses.  The Madoff Victim Fund will ultimately return to victims more than $4 billion in assets that have been recovered as compensation for losses suffered by the collapse of BLMIS, following the largest fraud in history.  Another $5 billion in assets recovered by the U.S. Attorney’s Office are being separately paid to Madoff victims through the BLMIS Customer Fund administered by the Securities Investor Protection Act Trustee.


Printer-Friendly Version