Annette Bongiorno has settled a civil case brought against her over the millions of dollars she and her husband received from managing Bernard Madoff’s investment advisory business and their investments with him. Her job under Madoff was to manage customer accounts. Prosecutors accused Bongiorno of making false securities trades. Now,…
Six years after the collapse of Bernard Madoff’s multi-billion dollar Ponzi scam, over $10 billion has been recovered—that’s close to 60% of the principal that went missing after his arrest in 2008. Nearly $6 billion has been paid back to investors. Trustee Irving Picard recently provided these figures in an…
According to Richard C. Breeden, who is overseeing the US Department of Justice’s Madoff Victim Fund, he has received some 51,700 claims worth approximately $40 billion from Ponzi scam victims seeking to recover their losses. That amount is three times more than the claims submitted during the bankruptcy proceedings for…