Skip to content
Subscriber Only
Wealth
Savings & Retirement

For Madoff Victims, ‘Tragedy Goes On’ After Scammer’s Death

  • King of Ponzi dies in prison at 82, leaving wake of despair
  • ‘I hope he rots in hell,’ says investor out ‘seven figures’
Video player cover image
WATCH: Bernard Madoff, mastermind of a $19 billion Ponzi scheme, has died. He was 82.(Source: Bloomberg)
Updated on

Bernard Madoff’s death in prison Wednesday doesn’t change much for his victims, many of whom are still waiting to be made whole on their share of $20 billion that vanished with the con man’s 2008 arrest.

The recovery effort, still underway in court more than a decade later, has been remarkably successful at recouping the lost principal, under the circumstances. But that’s little comfort to investors who lost their life savings or otherwise had their lives turned upside down. And none of them will ever see a cent of the $45 billion in fake trading profits Madoff assured them was safely tucked away in their accounts for retirement.