More Than 25,000 Madoff Victims Now Eligible For $4B Fund

The overseer of a $4 billion U.S. Justice Department fund for victims of Bernard Madoff’s Ponzi scheme said he expected to recommend payouts for at least 25,280 claimants with almost $4 billion in fraud losses.

Richard Breeden, special master of the Madoff Victim Fund, said in an update on his website this week that his office was “substantially” finished with the initial claims review process, having analyzed 63,580 claims covering $67.8 billion of alleged losses.