Madoff Victims to Receive Another $504 Million

Several news outlets this week reported that victims of Bernard L. Madoff, would receive an additional $504 million in proceeds from funds that the government seized.  The $504 million, the second in a series of payouts, brings the total to more than $1.2 billion.   The government has said that the approximate 21,000 victims could receive more than $4 billion.  But this amount pales in comparison to the estimated losses of about $65 billion in paper wealth and $17.5 billion in cash.

Victims of Bernard Madoff’s Ponzi Scheme to Receive Millions MoreMadoff Victims to Get New U.S. Government Payout

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