Madoff Victims to Get $1.45 Billion After Trustee’s Victory

Victims of Bernard Madoff’s Ponzi scheme will soon be receiving an additional $1.45 billion distribution, the fruits of an appeals court victory by the trustee unwinding the convicted swindler’s investment firm.

Several customers appealed directly to the Manhattan-based U.S. Court of Appeals for the Second Circuit court from a decision by a bankruptcy judge that they weren’t entitled to an adjustment of their claims reflecting how long they invested money with Madoff. Had those customers prevailed, long-time investors would have larger claims, at the expense of short-term victims.