NEW YORK — Thousands of victims of the late Ponzi schemer Bernie Madoff have received $4 billion in restitution, and they’re still not whole financially, Justice Department officials said Wednesday.
The mammoth sum comes as federal officials began distributing $372 million to 40,000 Madoff victims worldwide. Manhattan U.S. Attorney Damian Williams said the payments give those Madoff fleeced back more than 88% of what they lost.
Williams called it “a truly remarkable result,” and added, “Our work is not fully complete.”
