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A question about the Madoff case: I read that his investors were insured by the FDIC (or maybe some other acronym) to the tune of half a million USD (i.e., ever
by hackaflocka 11y ago
A question about the Madoff case: I read that his investors were insured by the FDIC (or maybe some other acronym) to the tune of half a million USD (i.e., everyone who invested received up to half a million from US taxpayers). Did this happen?
- ytNumbers 11y agoThere was no FDIC insurance because Bernie's ponzi scheme was not a bank. For this 64 billion dollar fraud, less than 5% of the money been returned to victims. https://en.wikipedia.org/wiki/Madoff_investment_scandal https://en.wikipedia.org/wiki/Madoff_investment_scandal