U.S. Pays $378 Million to Victims of Bernie Madoff Ponzi Scheme

Published by Mr Newtral on April 20, 2020April 20, 2020

Today, the United States Justice Department announced the “distribution of approximately $378.5 million” to victims of the Bernie Madoff Ponzi Scheme.

This payment brings “the total distributed to over $2.7 billion” and lost funds “to 73.65 percent” repaid.

Payments have been made “to nearly 38,000 victims worldwide.”

Repayment funds come from approximately $2.2 billion collected from a deceased Madoff investor, and an additional $1.7 billion were collected as part of a “deferred prosecution agreement” with JPMorgan Chase.

Bernie Madoff is currently serving 150 years in prison.