The US Department of Justice (DOJ) has announced that it has recovered almost all of the losses suffered by investors in the massive Ponzi scheme led by Bernard L. Madoff. Over the course of a decade, the DOJ has disbursed over $4.3 billion to 40,930 victims of the fraud scheme. Madoff ran the Ponzi scheme for about 17 years, defrauding investors from 127 countries out of approximately $65 billion. The DOJ recovered $2.6 billion through civil forfeiture actions against Madoff, his brother, co-conspirators, and clients who benefited from the scheme, and collected $1.7 billion from a settlement with JPMorgan Chase. The scheme collapsed during the 2008 financial crisis, and Madoff was sentenced to 150 years in prison in 2009.



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