IlluMyFi

Tenth and final payment means the 40,000-plus Ponzi scheme victims will have recovered 93% of investment losses

A US government fund to compensate people swindled by Bernie Madoff is making its final round of payments, taking the total paid from the fund to the late fraudster’s victims to $4.3bn (£3.4bn).

The Madoff Victim Fund is paying out $131.4m from forfeited assets to 23,408 people around the globe in the 10th and final distribution, according to a statement by the Department of Justice (DoJ).

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-0.18

Bearish/Bullish

05.01.25 07:00

by theguardian.com

New year, new deal: the buyout boom poised to take over City lawyers’ lives

Around-the-clock work will be commonplace to tackle an M&A surge fuelled by tax changes, activist investors … and the Trump factor

Whether they’re on skis or a sunlounger, there is no beach, mountain or fireside that can spare lawyers from the urgent calls of zealous, dealmaking executives and private equity bosses. After a breathless 2024, the City’s army of corporate lawyers are set for another year of masking their poolside backgrounds on video calls, braced for an even busier 2025.

“Sadly, we were incredibly busy in July and August. We were both on holiday and working up to 14 hours a day,” says Patrick Sarch, partner at law firm White & Case and head of its public mergers and acquisitions (M&A) division. He and Sonica Tolani, another partner at the same firm, specialise in advising activist investors.

United States of America