Reported by USAO – New York, Southern

Damian Williams, the United States Attorney for the Southern District of New York, Attorney General Merrick Garland, and Assistant Attorney General Kenneth A. Polite of the Justice Department’s Criminal Division, announced today that the Madoff Victim Fund established by the Department of Justice began its eighth distribution to victims of funds forfeited to the United States Government in connection with the Bernard L. Madoff Investment Securities LLC (“BLMIS”) fraud scheme. 

The distribution will include approximately $372 million in additional funds, bringing the total distributed to date to over $4 billion.  The funds will be sent to 40,000 victims worldwide, the eighth payment to victims that will bring their total recovery from all sources of compensation to 88.35% of their losses.  The Madoff Victim Fund will ultimately return to victims more than $4 billion in assets that have been recovered as compensation for losses suffered by the collapse of BLMIS, following the largest fraud in history, announced by this Office in 2013.

Another $5 billion in assets recovered by the U.S. Attorney’s Office are being separately paid to Madoff victims through the BLMIS Customer Fund administered by the Securities Investor Protection Act Trustee.

Read full press release: https://www.justice.gov/usao-sdny/pr/us-attorney-announces-total-distributions-over-4-billion-victims-madoff-ponzi-scheme