The Financial Conduct Authority (FCA) is reminding investors that the deadline for filing for compensation from the Madoff Victim Fund (MVF) is the last day of February.
Investors who lost money investing in Madoff Securities may be eligible for compensation from the fund, which is overseen by the US' Department for Justice and will return more than $4bn to victims. The Madoff scandal was a Ponzi-style securities fraud that ran for decades and saw cash flow into Madoff Securities through investment partnerships, funds of hedge funds, trusts, UCITS, insurance and annuity programs and many other types of financial products. Mastermind of the scheme Bernard Madoff, (pictured) was arrested on 12 December 2008 and is serving a 150-year sentence, after conf...
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