Money to Be Returned to Madoff Investors Tops $5 Billion

Most investors in Bernie Madoff’s epic Ponzi scheme initially assumed they had lost everything. But a new distribution announced Tuesday by court-appointed trustee Irving Picard will bring the total amount returned to investors past $5 billion for the first time.

In all, Picard and his team have recovered some $9.3 billion. That is more than half the $17.5 billion in principal Madoff investors lost—something few thought possible when the scam came to light in December, 2008. But even now, new information about the fraud is coming to light.

via Money to Be Returned to Madoff Investors Tops $5 Billion — CNBC