Victims of Bernard Madoff's fraud will soon receive $2.48
billion to help cover their losses, more than tripling their total recovery to
about $3.63 billion, the trustee liquidating the imprisoned swindler's firm
told the Ny Post.
Checks ranging from $1,784 to $526.9 million were mailed on
Wednesday to 1,230 former customers of Bernard L. Madoff Investment Securities
LLC, according to trustee Irving Picard. The average payout is $2.02 million.
Madoff's victims earlier recovered $1.15 billion, including
sums committed by the Securities Investor Protection Corp, which helps customers
of failed brokerages. US Bankruptcy Judge Burton Lifland in Manhattan authorized
the latest distribution last month following two legal victories for the
trustee....
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