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Madoff Money on Way ‘Fast as Possible,’ DOJ Fund Says

The Madoff Victim Fund controlled by the U.S. Justice Department said it will distribute $2.4 billion in forfeitures from the Jeffry Picower estate “as fast as possible” once all eligible recipients are known. The statement came in answer to calls for an update from victims of the fraud, according to the Madoff Victim Fund’s four-month-old website. The money is part of a $7.2 billion settlement by the widow of one of Bernard Madoff’s largest individual investors of a lawsuit accusing Picower of having known of the fraud, which robbed customers of about $17 billion in principal. More on Bloomberg here.

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