{"id":4814,"date":"2017-11-28T21:08:56","date_gmt":"2017-11-29T03:08:56","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4730"},"modified":"2022-04-01T13:00:01","modified_gmt":"2022-04-01T18:00:01","slug":"ponzi-scams-doj-begins-paying-distributions-madoff-victims-real-estate-investment-scam-allegations-lead-guilty-plea-sec-seeks-shut-38m-ad-packs-scheme","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ponzi-scams-doj-begins-paying-distributions-madoff-victims-real-estate-investment-scam-allegations-lead-guilty-plea-sec-seeks-shut-38m-ad-packs-scheme\/","title":{"rendered":"Ponzi Scams: DOJ Begins Paying Distributions to Madoff Victims, Real Estate Investment Scam Allegations Lead to Guilty Plea, and SEC Seeks to Shut Down $38M \u201cAd Packs\u201d Scheme"},"content":{"rendered":"<p><strong>DOJ Begins Distributing Payments to Bernie Madoff\u2019s Victims<\/strong><\/p>\n<p>Nearly nine years after Bernie Madoff was arrested for running a<a href=\"https:\/\/www.securities-fraud-attorneys.com\" target=\"_blank\" rel=\"noopener noreferrer\"> multi-billion dollar Ponzi scam<\/a>, the US Department Justice has begun to pay out distributions owed to his victims. The money comes from the Madoff Victim Fund, a $4B fund set up for settlements paid by <a href=\"https:\/\/www.investorlawyers.com\/jp-morgan-chase-background-information.html\">JPMorgan Chase &amp; Co. (JPM)<\/a>, which was the bank that the Ponzi mastermind used, and the estate of Jeffry Picower, who was one of Madoff\u2019s longtime customers.<\/p>\n<p>This fund will pay back over 24,000 victims some $772M during the first round of distributions. Another fund, which is supervised by bankruptcy court, has already paid out over $10B to investors. Investors who will be paid by from Madoff Victim Fund are those that did not qualify for recovery under the bankruptcy proceedings.<\/p>\n<p><strong>NY Woman Pleads Guilty to Running An Investment Scam<\/strong><\/p>\n<p>Alisa Adler has pleaded guilty to two counts of wire fraud. Adler is the ex-head of ASG Real Estate Services Group.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/ponzi-scams-doj-begins-paying-distributions-madoff-victims-real-estate-investment-scam-allegations-lead-guilty-plea-sec-seeks-shut-38m-ad-packs-scheme\/#more-4814\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>DOJ Begins Distributing Payments to Bernie Madoff\u2019s Victims Nearly nine years after Bernie Madoff was arrested for running a multi-billion dollar Ponzi scam, the US Department Justice has begun to pay out distributions owed to his victims. The money comes from the Madoff Victim Fund, a $4B fund set up for settlements paid by JPMorgan [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3738,3886,3792,3801,3760],"tags":[],"class_list":["post-4814","post","type-post","status-publish","format-standard","hentry","category-investor-fraud","category-madoff-ponzi-scheme","category-ponzi-scams","category-sec","category-sec-enforcement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ponzi Scams: DOJ Begins Paying Distributions to Madoff Victims, Real Estate Investment Scam Allegations Lead to Guilty Plea, and SEC Seeks to Shut Down $38M \u201cAd Packs\u201d Scheme &#8212; Investor Lawyers Blog &#8212; November 28, 2017<\/title>\n<meta name=\"description\" content=\"DOJ Begins Distributing Payments to Bernie Madoff\u2019s Victims Nearly nine years after Bernie Madoff was arrested for running a multi-billion dollar Ponzi &#8212; November 28, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/ponzi-scams-doj-begins-paying-distributions-madoff-victims-real-estate-investment-scam-allegations-lead-guilty-plea-sec-seeks-shut-38m-ad-packs-scheme\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ponzi Scams: DOJ Begins Paying Distributions to Madoff Victims, Real Estate Investment Scam Allegations Lead to Guilty Plea, and SEC Seeks to Shut Down $38M \u201cAd Packs\u201d Scheme &#8212; Investor Lawyers Blog &#8212; November 28, 2017\" \/>\n<meta name=\"twitter:description\" content=\"DOJ Begins Distributing Payments to Bernie Madoff\u2019s Victims Nearly nine years after Bernie Madoff was arrested for running a multi-billion dollar Ponzi &#8212; November 28, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ponzi Scams: DOJ Begins Paying Distributions to Madoff Victims, Real Estate Investment Scam Allegations Lead to Guilty Plea, and SEC Seeks to Shut Down $38M \u201cAd Packs\u201d Scheme &#8212; Investor Lawyers Blog &#8212; November 28, 2017","description":"DOJ Begins Distributing Payments to Bernie Madoff\u2019s Victims Nearly nine years after Bernie Madoff was arrested for running a multi-billion dollar Ponzi &#8212; November 28, 2017","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/ponzi-scams-doj-begins-paying-distributions-madoff-victims-real-estate-investment-scam-allegations-lead-guilty-plea-sec-seeks-shut-38m-ad-packs-scheme\/","twitter_card":"summary_large_image","twitter_title":"Ponzi Scams: DOJ Begins Paying Distributions to Madoff Victims, Real Estate Investment Scam Allegations Lead to Guilty Plea, and SEC Seeks to Shut Down $38M \u201cAd Packs\u201d Scheme &#8212; Investor Lawyers Blog &#8212; November 28, 2017","twitter_description":"DOJ Begins Distributing Payments to Bernie Madoff\u2019s Victims Nearly nine years after Bernie Madoff was arrested for running a multi-billion dollar Ponzi &#8212; November 28, 2017","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/ponzi-scams-doj-begins-paying-distributions-madoff-victims-real-estate-investment-scam-allegations-lead-guilty-plea-sec-seeks-shut-38m-ad-packs-scheme\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ponzi-scams-doj-begins-paying-distributions-madoff-victims-real-estate-investment-scam-allegations-lead-guilty-plea-sec-seeks-shut-38m-ad-packs-scheme\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Ponzi Scams: DOJ Begins Paying Distributions to Madoff Victims, Real Estate Investment Scam Allegations Lead to Guilty Plea, and SEC Seeks to Shut Down $38M \u201cAd Packs\u201d Scheme","datePublished":"2017-11-29T03:08:56+00:00","dateModified":"2022-04-01T18:00:01+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ponzi-scams-doj-begins-paying-distributions-madoff-victims-real-estate-investment-scam-allegations-lead-guilty-plea-sec-seeks-shut-38m-ad-packs-scheme\/"},"wordCount":604,"articleSection":["Investor Fraud","Madoff Ponzi Scheme","Ponzi Scams","SEC","SEC Enforcement"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/ponzi-scams-doj-begins-paying-distributions-madoff-victims-real-estate-investment-scam-allegations-lead-guilty-plea-sec-seeks-shut-38m-ad-packs-scheme\/","url":"https:\/\/www.investorlawyers.com\/blog\/ponzi-scams-doj-begins-paying-distributions-madoff-victims-real-estate-investment-scam-allegations-lead-guilty-plea-sec-seeks-shut-38m-ad-packs-scheme\/","name":"Ponzi Scams: DOJ Begins Paying Distributions to Madoff Victims, Real Estate Investment Scam Allegations Lead to Guilty Plea, and SEC Seeks to Shut Down $38M \u201cAd Packs\u201d Scheme &#8212; 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