How much money was lost in the Madoff scandal?
Andrew Campbell
Updated on January 08, 2026
Investors in Bernard L. Madoff Investment Securities LLC lost billions of dollars in the Madoff investment scandal, a Ponzi scheme fraud conducted by Bernard Madoff. The amount missing from client accounts, over two thirds of which were fabricated gains, was almost $ 65 billion.
Who was involved in the Madoff Ponzi scheme?
Investors in Bernard L. Madoff Investment Securities LLC lost billions of dollars in the Madoff investment scandal, a Ponzi scheme fraud conducted by Bernard Madoff.
Is there any way to recover money from Madoff?
As it has been concluded that no legitimate investments were made on the investors’ behalf for at least the last 12 years of operation, recovery has proceeded on a “money in/money out” basis.
How much money did Bernard Madoff lose in Fortis Bank?
De La Villehuchet lost about $50 million, the bulk of his personal wealth. Fortis Bank and its subsidiaries have no direct exposure to Bernard Madoff Investment Securities LLC, but parts of the group do have a risk exposure to certain funds it provides collateralized lending to.
How big was the Madoff hedge fund business?
By 2000, Madoff Securities, one of the top traders of US securities, held approximately $300 million in assets. The business occupied three floors of the Lipstick Building in Manhattan, with the investment management division, referred to as the “hedge fund”, employing a staff of approximately 24.
When did Bernard Madoff become a sole shareholder?
After 41 years as a sole proprietorship, Madoff converted his firm into a limited liability company in 2001, with himself as the sole shareholder. In 1992, Bernard Madoff explained his purported strategy to The Wall Street Journal.
Who was the biggest beneficiary of the Madoff scheme?
The single biggest beneficiary of the Madoff scheme, Picower—an investor and philanthropist—netted $7.2 billion from withdrawals of funds from Bernard L. Madoff Investment Securities. He died in 2009, in what was ruled an accidental drowning, amid speculation that he knew the firm was a ponzi scheme.
Who are the individual investors in Bernard Madoff?
Thousands of individual investors of Fairfield Greenwich, J. Ezra Merkin ‘s Ascot Partners, and Chais Investments are not included.
