• 16k number of people claim to have been affected by the breakdown of Madoff’s ponzi scheme, which left many of the victims destitute
• 60% of victims may never see any of the money because they put their money into Madoff’s care indirectly, though feeder funds
• 400 investors were sued for taking more than they were worth from Madoff’s ponzi scheme (though some of them are broke, too) source

• » Not every victim is getting helped: Only around $5.9 billion in losses has been recognized by the trustee so far, which much of the rest of the money owed indirectly by hedge funds that need to pay back the money they withdrew first.

Posted by Ernie Smith • Permalink