Madoff fund pays millions to hired firm, zero to victims

Over the last four years, the Madoff Victim Fund has paid $38.8 million to Richard Breeden, its administrator. Those harmed by Bernie Madoff’s Ponzi scheme are still waiting.

Breeden was hired to distribute $4 billion to victims.

"We now expect that the initial distribution will take place sometime in 2017 and will be larger than we originally had anticipated," said Breeden, a former chairman of the U.S. Securities and Exchange Commission.

Read more from Bloomberg.

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