Bernard Madoff's victims collect $4.3 billion as US government fund completes payouts [Yahoo! Finance]
JP Morgan Chase & Co. (JPM)
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Source: Yahoo! Finance
final distribution on Monday, saying it will have paid out $4.3 billion to 40,930 of the late Ponzi schemer's victims. Richard Breeden, the former U.S. Securities and Exchange Commission chairman who oversees the Madoff Victim Fund, said a final $131.4 million payout will go to 23,408 claimants, and mark the distribution of all available forfeited assets. Victims including 38,860 individuals, as well as schools, charities and pension plans, will have recouped an average 93.71% of their proven losses when the fund created by the U.S. Department of Justice closes in 2025. An additional $14.72 billion has been recouped for customers of the former Bernard L. Madoff Investment Securities LLC by Irving Picard, the trustee liquidating that firm following its 2008 bankruptcy. That boosts the total payout to Madoff victims to about $19 billion. Unlike Picard, Breeden also returned money to victims who lost money indirectly, such as through "feeder" funds. Payouts went to claimants in 1
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JPM
Earnings
- 10/14/24 - Beat
JPM
Sec Filings
- 1/2/25 - Form 424B3
- 1/2/25 - Form 424B3
- 1/2/25 - Form 424B3
- JPM's page on the SEC website