Securities Investor Protection Corporation

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$534M Paid to Madoff Victims; $4.5B to Go

Trustee has recovered $1.4 billion in clawbacks, with more to come

(Newser) - The government fund that insures brokerage firms has so far paid 1,368 victims of Bernie Madoff’s Ponzi scheme $534 million in reparations—more than it has paid out in all its previous liquidations combined, in its almost 40 years in existence. And it ain’t over, Madoff trustee... More »

Madoff Bought No Stocks—for 13 Years

(Newser) - The trustee liquidating Bernard Madoff’s companies said today the disgraced financier appears not to have purchased any securities for his clients for “perhaps as much as 13 years,” Bloomberg reports. It was “cash in and cash out,” Irving Picard said. "It was all just... More »

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