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Madoff Victim Fund
- The Department of Justice today announced that on Nov. 9, the Madoff Victim Fund (MVF) began its initial distribution of $772.5 million in funds forfeited to the U.S. Government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme. These funds will be sent to 24,631 victims across the globe.
www.justice.gov/opa/pr/department-justice-compensates-victims-bernard-madoff-fraud-scheme-funds-recovered-throughDepartment of Justice Compensates Victims of Bernard Madoff ...
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Stanley Chais was a wealthy investment advisor from Beverly Hills, California, who was accused of steering money to private interests, including Madoff, through Chais's Brighton Co., a limited partnership formed to manage money. He took about 3.8% of the profits as management fees.
Dec 9, 2022 · The trustee for the liquidation of Bernie Madoff’s defunct and fraudulent investment firm announced on Friday a new distribution of recovered funds to swindled customers. This is the 14th distribution to victims of Madoff’s Ponzi scheme and brings the total amount restored to more than $14 billion.
Dec 12, 2023 · The victims fund has collected about $2.2 billion through a civil forfeiture recovery from the estate of Jeffrey Picower, the late Madoff investor and top beneficiary of the scheme.
Nov 9, 2017 · Of the approximately $4.05 billion that will be made available to victims, approximately $2.2 billion was collected as part of the historic civil forfeiture recovery from the estate of deceased Madoff investor Jeffry Picower.
Dec 11, 2023 · Fifteen years to the day after the arrest of Bernie Madoff for the largest Ponzi scheme in history, nearly 25,000 of the disgraced financier's victims will receive $158.9 million, bringing their...
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Sep 28, 2022 · The Department of Justice announced today that the Madoff Victim Fund (MVF) began its eighth distribution of approximately $372 million in funds forfeited to the U.S. government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme.
Dec 16, 2018 · Irving Picard and David Sheehan, the lawyers who've been overseeing the liquidation of the firm, have recovered more than $13 billion of that money so far - more than two-thirds. And they have a...
