{"id":5603,"date":"2014-05-14T00:00:00","date_gmt":"2014-05-14T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/05\/dojs_fund_for_madoff_victims_h"},"modified":"2022-05-05T12:07:53","modified_gmt":"2022-05-05T17:07:53","slug":"dojs-fund-for-madoff-victims-h","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/dojs-fund-for-madoff-victims-h\/","title":{"rendered":"DOJ\u2019s Fund for Madoff Victims Has Received 51,700 Claims Worth $40B"},"content":{"rendered":"\n<p>According to Richard C. Breeden, who is overseeing the US Department of Justice\u2019s 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 Bernard L. Madoff\u2019s firm. <\/p>\n<p>The fund is responsible for giving back $4 billion in forfeited assets to claimants, including those who were indirectly impacted by the Madoff Ponzi scam, such as \u201d feeder funds,\u201d banks, hedge funds, and other entities that trustee Irving Picard has denied recovery. Picard is only compensating direct investors who were harmed. <\/p>\n<p>Breeden says that the amount of investors seeking recovery are twice as many as previously estimated and their claimed losses are billions of dollars greater than what was documented. Prior to an April 30 deadline, he received over 43,500 claims from those who did not submit to the bankruptcy case. More than 36,000 claims were from those who said they haven\u2019t gotten any of their losses back. <\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/dojs-fund-for-madoff-victims-h\/\"  title=\"Continue Reading DOJ\u2019s Fund for Madoff Victims Has Received 51,700 Claims Worth $40B\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to Richard C. Breeden, who is overseeing the US Department of Justice\u2019s 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 Bernard L. Madoff\u2019s firm. The [&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":[3792],"tags":[3431],"class_list":["post-5603","post","type-post","status-publish","format-standard","hentry","category-ponzi-scams","tag-madoff-ponzi-scheme"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DOJ\u2019s Fund for Madoff Victims Has Received 51,700 Claims Worth $40B &#8212; Investor Lawyers Blog &#8212; May 14, 2014<\/title>\n<meta name=\"description\" content=\"According to Richard C. Breeden, who is overseeing the US Department of Justice\u2019s Madoff Victim Fund, he has received some 51,700 claims worth &#8212; May 14, 2014\" \/>\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\/dojs-fund-for-madoff-victims-h\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"DOJ\u2019s Fund for Madoff Victims Has Received 51,700 Claims Worth $40B &#8212; Investor Lawyers Blog &#8212; May 14, 2014\" \/>\n<meta name=\"twitter:description\" content=\"According to Richard C. Breeden, who is overseeing the US Department of Justice\u2019s Madoff Victim Fund, he has received some 51,700 claims worth &#8212; May 14, 2014\" \/>\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":"DOJ\u2019s Fund for Madoff Victims Has Received 51,700 Claims Worth $40B &#8212; Investor Lawyers Blog &#8212; May 14, 2014","description":"According to Richard C. Breeden, who is overseeing the US Department of Justice\u2019s Madoff Victim Fund, he has received some 51,700 claims worth &#8212; May 14, 2014","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\/dojs-fund-for-madoff-victims-h\/","twitter_card":"summary_large_image","twitter_title":"DOJ\u2019s Fund for Madoff Victims Has Received 51,700 Claims Worth $40B &#8212; Investor Lawyers Blog &#8212; May 14, 2014","twitter_description":"According to Richard C. Breeden, who is overseeing the US Department of Justice\u2019s Madoff Victim Fund, he has received some 51,700 claims worth &#8212; May 14, 2014","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\/dojs-fund-for-madoff-victims-h\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/dojs-fund-for-madoff-victims-h\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"DOJ\u2019s Fund for Madoff Victims Has Received 51,700 Claims Worth $40B","datePublished":"2014-05-14T05:00:00+00:00","dateModified":"2022-05-05T17:07:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/dojs-fund-for-madoff-victims-h\/"},"wordCount":597,"keywords":["Madoff Ponzi Scheme"],"articleSection":["Ponzi Scams"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/dojs-fund-for-madoff-victims-h\/","url":"https:\/\/www.investorlawyers.com\/blog\/dojs-fund-for-madoff-victims-h\/","name":"DOJ\u2019s Fund for Madoff Victims Has Received 51,700 Claims Worth $40B &#8212; Investor Lawyers Blog &#8212; May 14, 2014","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2014-05-14T05:00:00+00:00","dateModified":"2022-05-05T17:07:53+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"According to Richard C. 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