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Department of Justice Begins Fourth Distribution of Funds Recovered Through Asset Forfeiture to Compensate Victims of Bernard Madoff Fraud Scheme
The Department of Justice today announced that on July 31, the Madoff Victim Fund (MVF) began its fourth distribution of $469.6 million in funds forfeited to the U.S. Government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme, bringing the total distributed to $2.4 billion to nearly 32,000 victims worldwide. In this distribution, payments will be sent to over 25,000 victims across the globe, bringing their total recovery to 66.85 percent. This distribution represents the fourth in a series of payments that will eventually return over $4 billion to victims as compensation for ... (full story)