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Bookmark or Share- Justice Department’s 10th Distribution Brings Total Provided ...These funds were forfeited by the U.S. government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme. In this distribution, payments will be sent to more than 23,000 victims across the globe. With this 10th distribution, over 40,000 victims in the Madoff scheme will have recovered 93.71% of their fraud losses.
- Madoff victim fund covers most of Ponzi scheme losses: DOJMore than 40,000 victims lost billions of dollars to Bernie Madoff, whose Ponzi scheme has been called the largest in the world.
- Madoff investment scandal - WikipediaIn December of that year, Bernie Madoff, the former Nasdaq chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme.
- Bernie Madoff - WikipediaOn March 12, 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth management business into a massive Ponzi scheme. The Madoff investment scandal defrauded thousands of investors of billions of dollars.
- Bernie Madoff’s victims have now recovered 94% of their lossesA US government fund to help compensate thousands of people scammed by the late Bernie Madoff in the biggest Ponzi scheme in history is making its final batch of payments. CNN values your feedback 1.
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