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Settlement proposed in lawsuits related to Madoff Ponzi scheme

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Settlement proposed in lawsuits related to Madoff Ponzi scheme

In four lawsuits related to the Bernard Madoff Ponzi scheme, $16.1 million will be placed in a restitution fund for victims.

Total payments of $20.2 million will be made, including a payment of $15 million related to the settlement with the California Attorney General and a payment of $5.2 million. After $4.1 million in required fees and expenses, the restitution fund total will be $16.1 million.