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PONZI SCHEME Madoff Victims to Get $2.4B Payout Stuart Ramson / AP Photo

Madoff Victims to Get $2.4B Payout

After seeing their money evaporate under the duplicitous hand of Bernie Madoff, the victims of his Ponzi scheme will get $2.48 billion, the trustee administering Madoff’s firm said on Thursday. Checks that varied in value from as low as about $2,000 up all the way to a staggering $527 million were sent on Wednesday to those swindled by Madoff through his former company, Bernard L. Madoff Investment Securities, LLC. This most recent payout adds to an earlier round of checks that totaled about $1.2 billion, bringing the total amount of compensation returned to victims to about $3.63 billion.

September 20, 2012 10:39 AM