Investors seek over $40 bln from Madoff victim fund

The overseer of a U.S. fund to compensate victims of Bernard Madoff’s Ponzi scheme on Tuesday said he has received roughly 51,700 claims seeking to recoup more than $40 billion, both totals far higher than expected. Richard Breeden, a special master appointed by the U.S. Department of Justice to oversee the $4.05 billion Madoff Victim Fund, said it appeared at least twice as many investors as previous thought lost money in Madoff’s fraud. More on Reuters here.