NEW YORK, December 4. /Corr. Igor Borisenko/. The next, sixth stage of payment of compensation to depositors affected by the collapse of the financial pyramid Bernard Madoff seven years ago, began on Friday.
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JP Morgan Chase will pay $1.7 billion to settle the allegations in the matter of swindler Madoff
As reported by information service BloombergBusiness, several hundred pensioners and charities, investment funds and other former clients of Madoff before the end of the year will receive checks in the amount of $1298 to $202 million Total amount of payments during the current phase of compensation will be $1.2 billion.
The distribution of these funds was made possible after the decision of the U.S. Supreme court, which in October refused to consider an appeal of the part affected by the fraud of the Madoff investors, who demanded more favorable compensation terms.
Bernard Madoff, who was at one time a post of the Chairman of the Board of Directors of stock exchange NASDAQ, in 2008, was accused of having created probably the world’s largest financial pyramids in the amount of $64,8 billion In March 2009, Madoff pleaded guilty to money-laundering, perjury and fraud and was sentenced to 150 years in prison.
The swindler of the century, Bernard Madoff argues that the American banks knew about his fraud