Bernard Madoff fraud victims to get US$568 million reimbursement

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About 31,000 investors worldwide will soon get payments derived from U.S. government settlements

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Victims of Bernard Madoff’s massive fraud are about to get the first government payouts since the con man died behind bars five months ago, with a fund set up years ago preparing to send out US$568 million in reimbursement checks.

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About 31,000 investors worldwide will soon get payments derived from government settlements with some of Madoff’s oldest customers and his bank, JPMorgan Chase & Co., the U.S. Justice Department said Thursday in a statement. The DOJ, which set up the fund, said the disbursements will boost its total payouts to more than US$3.7 billion.