Reuters – More than 9,000 claims from people who say they were defrauded by Bernard Madoff have been submitted to a $4.05 billion fund set up by the U.S. government, and victims of the swindler’s Ponzi scheme were given two more months to seek compensation.
Richard Breeden, a special master who oversees the Madoff Victim Fund, and U.S. Attorney Preet Bharara in New York on Friday [Feb. 21] extended the claims deadline to April 30 from Feb. 28. Breeden said the pace of claims has “accelerated dramatically” as more people learn about his fund, which was collected by the U.S. Department of Justice and established in November. He also said many claims are complex, often involving investments that flowed through three or more intermediaries.
