$464 Million More Paid Out To Victims Of Bernie Madoff Ponzi Scheme

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The new payout to 880 former Madoff clients began on Friday with checks ranging from $429 to $66 million, Bloomberg reported, citing the office of trustee Irving Picard.

The total distributions equal about two-thirds of each allowed claim, Picard said. Clients who suffered certified losses of as much as $1.49 million will have been paid in full after this 10th distribution, according to the report.

In 2009, Madoff pleaded guilty to 11 federal felonies and is serving a 150-year sentence in a North Carolina federal prison. He also was ordered to forfeit nearly $171 billion.

Read more at JPOST.

{Matzav.com}

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