Tag Archives: Madoff

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.”

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