Madoff Victims Set To Receive $500M In Compensation

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The Department of Justice began distribution of $504 million in forfeited funds in connection with Bernard Madoff’s Ponzi scheme, bringing the total distribution to more than $1.2 billion divided among thousands of victims.

Last June, the department approved more than 39,000 petitions for compensation, but in total, the Madoff Victim Fund has received more than 65,000 petitions from victims in 136 countries.

“We cannot undo the damage that Bernie Madoff has done, but today’s distribution will provide significant relief to many of the victims of one of the worst frauds of all time,” Sessions said. Read more.

{Matzav.com}

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