Victims of Bernard L. Madoff, the architect of one of Wall Street’s largest frauds, will receive another $504 million, proceeds from assets that the government seized after Mr. Madoff’s financial firm collapsed a decade ago.
With this distribution, the second in a series of payouts, about 21,000 victims will have received a total of more than $1.2 billion, the Justice Department said. The payments were made by the Madoff Victim Fund, a government entity created to help people who lost money when Mr. Madoff’s long-running Ponzi scheme unraveled.
via Victims of Bernard Madoff’s Ponzi Scheme to Receive Millions More – The New York Times.
