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A U.S. government fund to compensate people swindled by Bernard Madoff announced its tenth and final distribution on Monday, saying it will have paid out $4.3 billion to 40,930 of the late Ponzi ...
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.
The DOJ announced Monday that it began distributing its tenth and final payments of forfeited funds to 40,930 victims of Madoff’s scheme, the largest known Ponzi scheme to date.
The Optimal SUS fund, one of Madoff's largest feeder funds, [83] agreed to pay $235 million, about 85% of the $285 million that the Geneva-based hedge fund group redeemed in the 90 days before Madoff was arrested. As of December 2008, Santander had $3.2 billion of clients' money invested with Madoff, a relationship that started in 1996.
The pension fund case was Retirement Program for Employees of the Town of Fairfield v. Madoff, FBT-CV-09-5023735-S, Superior Court of Connecticut (Bridgeport). [42] [43] [44] On May 18, 2009, Irving Picard sued Fairfield Greenwich Group seeking the return of $3.2 billion covering the period from 2002 to Madoff's arrest in December 2008.
Investors in Bernard L. Madoff Investment Securities LLC lost billions of dollars in the Madoff investment scandal, a Ponzi scheme fraud conducted by Bernard Madoff. The amount missing from client accounts, over two thirds of which were fabricated gains, was almost $ 65 billion. [ 1 ]
NEW YORK (Reuters) -A Texas investment firm agreed on Friday to pay $2.51 million to settle a U.S. government lawsuit accusing it of fraudulently obtaining payments from a fund meant to compensate ...
Access International Advisors LLC’s LuxAlpha Sicav-American Selection was a UCITS fund that invested 95% of its money with Bernie Madoff. [9] It had $1.4 billion in net assets a month before Madoff's December 2008 arrest and was exposed for $1.4 billion, which it had placed with Madoff's securities fund, in the Madoff Ponzi scheme.