Additional Coverage:
The victims of Bernie Madoff’s massive Ponzi scheme have received their final payment of $131 million.
This brings their total recovery to 94% of their lost investments, with most victims being small investors who lost less than $500,000.
Since Madoff’s arrest in 2008, the Madoff Victim Fund has distributed over $4 billion to nearly 41,000 victims worldwide.
Acting U.S. Attorney Edward Kim emphasized that the government has remained committed to seeking justice for the victims.
Madoff stole billions from his clients for decades, using his investment firm as a front for the world’s largest Ponzi scheme.
After pleading guilty in 2009, Madoff was sentenced to 150 years in prison and died in 2021.
The forfeiture process has enabled the government to recover assets and compensate the victims for their losses.