Madoff Customer Payout Tops $12 Billion

www.oann.com | 1/14/2009 | Staff
gemini2323 (Posted by) Level 3
NEW YORK (Reuters) – The court-appointed trustee liquidating Bernard Madoff’s firm said he began distributing $464 million to the imprisoned swindler’s former customers on Friday, boosting their recovery to roughly $12.2 billion.

Irving Picard, the trustee, said the payout means all former customers of Bernard L Madoff Investment Securities LLC who were eligible to recoup up to $1.49 million for their losses will have been repaid in full.

Trustee - Percent - Customers - Madoff - Fraud

The trustee said $13.36 billion, or 76 percent, of the roughly $17.5 billion that customers lost in Madoff’s fraud has been...
(Excerpt) Read more at: www.oann.com
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!