Madoff fund has paid zero to fraud victims so far

From USA Today, “Victims of Bernard Madoff’s huge Ponzi scheme have so far received no repayments from the company the Department of Justice tapped to distribute $4 billion recovered from the notorious fraud.

Nearly 8½ years after Madoff’s arrest, RCB Fund Services LLC is still working to finalize reviews and recommendations for 63,580 claims covering $67.8 billion in reported losses.

Although fraud victims have received nothing from the fund, Breeden’s company has been paid $38.8 million for its work, Bloomberg News reported Tuesday, citing records released by the government in response to a Freedom of Information Act request.”

Leave a comment

Filed under Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s