Investment Fraud: Madoff Ponzi Scam Victims Receive Another $695M, Ex-Royal Alliance Associates Investment Adviser Pleads Guilty To Stealing $3M From Customers, and MoneyGram Investor Proposes Lawsuit After $125M Settlement
DOJ Distributes Another $695M to Over 27,000 Madoff Ponzi Scam Victims
A decade on the heels of Bernard Madoff’s arrest for running a multi-billion dollar Ponzi scam, the US Justice Department has distributed another $695M to over 27,000 of his victims. This is the DOJ’s third payment to investors of the fraud, bringing the total amount issued to nearly $2B.
In a statement, the DOJ said that it plans to restore more than $4B in total to those who sustained losses in the scheme that went on for decades, harming investors from all walks of life, including: