More than $568 million will be distributed to victims of the Bernie Madoff Ponzi scheme, according to the U.S. Justice Department.
The Madoff Victim Fund began its seventh distribution of about $568 million in funds forfeited in connection with the Madoff fraud scheme, according to the Justice Department.
Over $3.7 billion has been provided to about 40,000 Madoff victims worldwide, the Justice Department stated. More information on the victim fund is at www.madoffvictimfund.com.
U.S. Justice Department officials called Madoff’s fraud history’s largest Ponzi scheme. It was estimated at over $60 billion.
Madoff pleaded guilty in 2009 to 11 federal felonies. He died in April 2021 while in federal custody.