The Chonchy
-
Why Is the U.S. Still Sitting on $4 Billion in Madoff Money?
There’s a $4 billion pot of cash at the Department of Justice for victims of Bernard L. Madoff’s Ponzi scheme. Thousands of them have been trying to tap the fund since it was set up three years ago, without seeing a penny. Many are elderly and live modestly. Some lost their life savings in the scam. One of them, a 50-year-old technology consultant in California, said he filed a claim in 2013 for $250,000 he lost in the fraud. Two years later, he got a letter telling him a “formal determination notice” would be sent. He’s still waiting. The more fortunate filed claims with Irving Picard, the trustee who ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Feb 5, 2016 3:43pm Feb 5, 2016 3:43pm
- chonchy
- Joined Aug 2007 | Status: The Bitcoiner | 8 Comments
- Comment #2
- Quote
- Feb 7, 2016 5:57pm Feb 7, 2016 5:57pm
- Newstart08
- | Joined Sep 2008 | Status: Member | 255 Comments
- Comment #3
- Quote
- Mar 9, 2016 9:33pm Mar 9, 2016 9:33pm
- wlarimer
- | Joined Jun 2010 | Status: Member | 910 Comments