$2.5 billion sent to victims of Madoff’s fraud

Bernard Madoff’s victims will soon receive $2.48 billion to help cover their losses, by far the largest payout since the swindler’s massive fraud was uncovered nearly four years ago. Checks ranging from $1,784 to $526.9 million were mailed Wednesday to 1,230 former customers of Bernard L. Madoff Investment Securities, according to Irving Picard, the trustee liquidating the firm. The latest payout more than triples the total recovery to $3.63 billion, Picard said Thursday. Thus 1,074 customers with valid claims, or 44 percent of the total number, will be fully repaid, he added.
More in the Washington Post here.