Madoff recoveries top $10B with new settlement

The court-appointed trustee rounding up funds for victims of the Madoff Ponzi scheme says the total recovered now tops $10 billion, an amount virtually no one thought possible when the scam collapsed nearly six years ago.

According to CNBC, the latest settlement would recover some $500 million from two defunct feeder funds in the Cayman Islands.

Approval of the settlement would bring total recoveries to $10.3 billion.

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