[HN Gopher] US Attorney Announces Distribution of Over $158M to ...
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       US Attorney Announces Distribution of Over $158M to ~25k Victims of
       Madoff Ponzi
        
       Author : toomuchtodo
       Score  : 7 points
       Date   : 2023-12-11 20:43 UTC (2 hours ago)
        
 (HTM) web link (www.justice.gov)
 (TXT) w3m dump (www.justice.gov)
        
       | toomuchtodo wrote:
       | Title tweaked to fit char limits.
       | 
       | Wikipedia:
       | https://en.wikipedia.org/wiki/Madoff_investment_scandal
        
       | h2odragon wrote:
       | $64 billion in fraud, $4 billion compensation, ... "total
       | recoveries to 91% of their fraud losses."
       | 
       | What math is this? I got 6.6%.
        
         | wmf wrote:
         | They defined losses as the money originally invested, not the
         | fake profits. So people have gotten back almost the money they
         | put in decades ago; they've still lost massively compared to a
         | scenario where they invested that money in something other than
         | Madoff.
        
           | 0cf8612b2e1e wrote:
           | So, if they were robbing Peter to pay Paul, how is there
           | still 90%+ available for payouts? That seems shockingly
           | frugal of Bernie and Co.
        
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       (page generated 2023-12-11 23:01 UTC)