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	<title>117208247 &#8211; eZNews</title>
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		<title>Bernie Madoff&#8217;s victims to receive final payout totaling $131 million</title>
		<link>https://eznews.xyz/world-news/bernie-madoffs-victims-to-receive-final-payout-totaling-131-million/</link>
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		<pubDate>Mon, 30 Dec 2024 21:56:01 +0000</pubDate>
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					<description><![CDATA[The fund disbursing money to the victims of Bernie Madoff’s legendary Ponzi scheme began its 10th and final distribution on Monday, putting another $131 million in the pockets of swindled investors. Twenty-three thousand victims worldwide are receiving payments, bringing their total recoveries to 94% of their losses. Most of these victims were small investors who [&#8230;]]]></description>
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<p class="EkqkG IGXmU nlgHS yuUao MvWXB TjIXL aGjvy ebVHC ">The fund disbursing money to the victims of Bernie Madoff’s legendary Ponzi scheme began its 10th and final distribution on Monday, putting another $131 million in the pockets of swindled investors.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">Twenty-three thousand victims worldwide are receiving payments, bringing their total recoveries to 94% of their losses. Most of these victims were small investors who lost less than $500,000 in the fraud, according to federal prosecutors.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">Since the collapse of Madoff’s investment house and his 2009 guilty plea, the Madoff Victim Fund has paid more than $4 billion to nearly 41,000 victims in 127 countries.</p>
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<div class="nMMea bNYiy Mjgpa dGwha DDmxa jgKNG RGHCC aBIU PriDW lZur " data-testid="prism-caption">
<p><span class="hsDdd OOSI GpQCA lZur VlFaz " data-testid="prism-truncate"><span><span class="gtOSm FbbUW tUtYa vOCwz EQwFq yCufu eEak Qmvg nyTIa SRXVc vzLa jgBfc WXDas CiUCW kqbG zrdEG txGfn ygKVe BbezD UOtxr CVfpq xijV soGRS XgdC sEIlf daWqJ ">Bernard Madoff, founder of Bernard L. Madoff Investment Securities LLC, leaves federal court in New York, March 10, 2009.</span></span></span></p>
<p><span class="gtOSm FbbUW tUtYa vOCwz EQwFq yCufu eEak Qmvg nyTIa SRXVc vzLa jgBfc WXDas CiUCW kqbG zrdEG txGfn ygKVe BbezD UOtxr CVfpq xijV soGRS XgdC sEIlf daWqJ YNujN JGtjI aZFDu rkKLh "> Jin Lee/Bloomberg via Getty Images</span></p>
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<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">“This office has never stopped pursuing justice for victims of history’s largest Ponzi scheme,” acting U.S. Attorney Edward Y. Kim said.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">For decades, Madoff used the investment advisory business he founded in 1960 to steal billions from his clients, turning his wealth management firm into the world’s largest Ponzi scheme to benefit himself, his family and select members of his inner circle.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">He was sentenced to 150 years in prison, where he died in 2021.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC eTIW sUzSN ">&#8220;The unprecedented scope and complexity of the Madoff remission process shows the power of forfeiture to recover assets and to compensate victims,&#8221; Principal Deputy Assistant Attorney General Brent Wible said in a statement on Monday.</p>
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