"Madoff Ponzi Scheme Victims Receive $159 Million in Latest Payout"
The Department of Justice has announced the ninth payout from the fund for victims of Bernie Madoff's Ponzi scheme, distributing approximately $159 million in government-seized funds to nearly 25,000 people worldwide. This brings the total amount paid out by the fund to over $4.2 billion, helping to recover over 90% of victim losses. The collapse of Madoff's $65 billion fraud scheme devastated thousands of lives, affecting major celebrities, financial institutions, charities, and pension funds. The funds were collected through civil forfeiture actions against Madoff, his co-conspirators, and other investors involved in the scheme.
