Bernie Madoff victims get $159 million from Ponzi recovery fund

The fund for victims of Bernie Madoff’s historic Ponzi scheme has begun its ninth payout, distributing about $159 million in government-seized funds to nearly 25,000 people worldwide, the Department of Justice said Monday.

The announcement, made 15 years after Madoff’s arrest — and more than two years after his death in prison — underscored the continuing impact of Madoff’s nearly $65 billion securities fraud scam.

The collapse of the world’s largest fraud scheme “devastated thousands of lives,” said Nicole Argentieri, acting assistant attorney general of the DOJ’s criminal division, in a press release.

With its latest distribution, the fund has paid out over $4.2 billion to more than 40,800 victims who lost money from the scheme, the DOJ said.

Source: Bernie Madoff victims get $159 million from Ponzi recovery fund