c-madoff-RTR29RJW-Brendan McDermid

Bernard Madoff’s victims are still waiting for their money—the firm managing it isn’t

$38.8 million

The firm hired to pay the victims of Bernie Madoff’s Ponzi scheme received $38.8 million in billings in four years.

Published   |  Photo by Reuters/Brendan McDermid
c-madoff-RTR29RJW-Brendan McDermid
$38.8 million

Called RCB Fund Services LLC, the company is reviewing 63,580 claims for $67.8 billion in losses.

c-madoff-RTR29RJW-Brendan McDermid
$38.8 million

Meanwhile, the victims of the scheme received nothing from a $4 billion fund reserved for their compensation.

c-madoff-RTR29RJW-Brendan McDermid
$38.8 million

The firm promised to start with the payments in 2016, but missed the deadline. Now it says it will start in 2017.

Published

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