Madoff Victims to Start 2021 With $190 Million Payout by Trustee

Dec. 9, 2020, 5:14 PM

Victims of Bernard Madoff’s $20 billion Ponzi scheme are set to start 2021 with checks totaling more than $190 million, the latest installment in loss-compensation payments from the trustee who’s been liquidating the con man’s business for more than a decade.

The 12th distribution in the long-running case includes more than $74 million in settlements and courtroom recoveries since the last payout in February, trustee Irving Picard said Wednesday in a statement. The payouts associated with 813 accounts will average $234,631 each and will boost total victim recoveries to 69.6% of approved claims, the trustee said.

“With our next ...

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