Thousands more Madoff victims may get payouts

Roughly 11,000 additional victims of Bernard Madoff’s Ponzi scheme may recover some of their losses, and the number could double as an official overseeing a $4.05 billion compensation fund set up by the U.S. government reviews more claims. In an update this week, the Madoff Victim Fund’s special master, Richard Breeden, said he would recommend that the U.S. Department of Justice approve payments on the 11,000 claims, comprising about $1.3 billion of losses, once all have proper signatures. It is likely the number of “approved” claims will at least double, Breeden said. More on Reuters here.