madoff
New York (AFP) - Bernie Madoff, mastermind of the largest financial scam in history that unraveled during the 2008 economic crisis, died in jail on Wednesday, US prison officials said. He was 82. Madoff had been suffering from chronic kidney failure and prison chiefs had denied his request last year to be allowed to go home to die. The New Yorker was sentenced to 150 years in prison in 2009 for running a pyramid-style scheme that conned tens of thousands of people around the world and was estimated to be worth almost $65 billion. It became an ugly symbol of Wall Street excess and left a cripp...
AFP
New York (AFP) - Victims of Bernie Madoff, the mastermind behind the worst financial scam in history, will receive $488 million in additional payments through a victim fund, the US Justice Department said Thursday. The Madoff Victim Fund will disburse payments to more than 30,000 people around the world who were cheated out of their investments by the crooked financier between the 1970s and 2000s, the Department of Justice said in a statement. The operation marks the sixth time such payments have been made, bringing the total refunds to nearly $3.2 billion, according to the department. "That ...
AFP
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