Madoff victims get another $500 million from recovery efforts

The Justice Department is making more payments to victims of Bernard Madoff’s Ponzi scheme, tapping a U.S. fund that will eventually distribute $4 billion forfeited by the con man’s longtime bank, JPMorgan Chase & Co, and one of his biggest customers.
The $504 million payout announced Thursday brings the DOJ’s distribution to more than $1.2 billion a decade after the collapse of Manhattan-based Bernard L. Madoff Investment Securities LLC, the agency said in a statement. The