The Madoff scandal has made headlines for years, but there's still a lot that people don't know about the biggest Ponzi scheme in history. Only a fraction of Madoff's thousands of victims have gotten all of their money back. Swindled investors have filed 16, claims to Picard. So far, 1, have been fully reimbursed. Another 1, accounts are eligible for compensation and have been partially reimbursed. The majority of the claims - nearly 11, - were rejected because they were from "third party" investors : They had invested with other financial firms that in turn invested with Madoff.
But the third party investors will end up with some relief too.
Related: Ex-Madoff aid: 'I created fake books and records'. No one has been able to prove when Madoff began stealing from investors. Madoff himself has made contradictory claims about when the crime began. He told CNNMoney in an interview earlier this year that it all started in , but he later said the scheme began in Some reports say Madoff's epic crime may have started as early as the s, when he began working on Wall Street. Madoff's former account manager, Frank DiPascali, Jr. It's just that two-thirds of that money was a figment of Bernie's imagination.
Related: Prison exclusive with Madoff, the king of thieves.
Madoff, The Man Who Stole $65 Billion by Erin Arvedlund | | Booktopia
They invested based on relationships. Douglas Murray. Ross Clark. Bruce Anderson. Mary Killen. Isabel Hardman. Robert Peston. James Johnson.
Kathrine Jebsen Moore. Brendan O'Neill.
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Madoff- The man who stole $65 billion
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