Assistant Attorney: Pension Funds and Bernie Madoff

assistant attorney: It will bring the total paid out to victims so far to nearly 2bn, out of more than a total of 4bn that will eventually be paid, according to The Guardian. Bernie Madoff's scheme devastated retirement and pension funds, charitable organizations and thousands of individual investors, said US assistant attorney general Brian Benczkowski. The payout the third made by the Madoff Victim Fund will be distributed starting Thursday to 27,000 victims of the infamous scammer around the world. Sign up for the new US morning briefing The payments announced today could not have happened without the prosecutors' relentless pursuit of proceeds of Madoff's fraud through civil forfeiture, he said. The disgraced financier was arrested 10 years ago next month, after years of ripping off investors, many of whom lost their life savings to the scheme. Victims who would not have seen a dime in other compensation programs will now recover more than half of their losses. (news.financializer.com). As reported in the news.