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Search resuls for: "Jonathan Stempel Rami Ayyub"


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An American flag waves outside the U.S. Department of Justice Building in Washington, U.S., December 15, 2020. REUTERS/Al Drago/File PhotoNEW YORK/WASHINGTON, Sept 28 (Reuters) - Bernard Madoff's victims will soon receive another $372 million to help cover their losses, nearly 14 years after the swindler's capture for running a massive Ponzi scheme, the U.S. Department of Justice said on Wednesday. The payout from the government's Madoff Victim Fund will go to 27,219 victims, including more than 400 who had yet to recoup a penny from any source. Wednesday's payout is the eighth from the government fund, with victims recouping an average 88.35% of their losses. It originally held $4.05 billion, but has grown because the Justice Department has recovered additional assets.
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