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New Madoff Fund Recovery Effort by End of 2025?
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Final Payout of $131 Million Completes $4.3 Billion Recovery for 40,930 Madoff Victims After 16 Years, Covering 94% of Losses
Dec 31, 2024, 12:38 AM
The U.S. Department of Justice has announced the completion of the final distribution from the fund established to compensate victims of Bernie Madoff's Ponzi scheme. The tenth and last payout, amounting to $131 million, brings the total compensation to over $4.3 billion, covering nearly 94% of the estimated losses incurred by more than 40,930 victims worldwide. This distribution marks the conclusion of a 16-year effort to recover funds for those affected by one of the largest financial frauds in history. The compensation fund has successfully returned a substantial portion of the losses, with payouts reaching victims in approximately 130 countries.
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