The new payout to 880 former Madoff clients began on Friday with checks ranging from $429 to $66 million, Bloomberg reported, citing the office of trustee Irving Picard.
The total distributions equal about two-thirds of each allowed claim, Picard said. Clients who suffered certified losses of as much as $1.49 million will have been paid in full after this 10th distribution, according to the report.
In 2009, Madoff pleaded guilty to 11 federal felonies and is serving a 150-year sentence in a North Carolina federal prison. He also was ordered to forfeit nearly $171 billion.
Read more at JPOST.
{Matzav.com}
Are any of these payouts coming from the taxpayers of New York?
If even a cent came from the NY taxpayers, Obnoxio Cortex would have been all over it.
These investors are getting a windfall. Stop this nonsense.