“one big lie” , 150 years of sentence
NewYork based Bernie Madoff who ran a “one big lie” ponzi scheme lurking almost $ 65 Billion of investors money under the name of Bernard L. Madoff Investment Securities LLC has been sentenced today for 150 years of life in prison. Overall it provided affected investors and public a sense of satisfaction , but hopefully SEC & financial governance will expose these “one big lie” before it gets bigger in billions for betterment of every investor out there.
Investors are looking to recover some of the money which are being liquidated by court appointed trustee , details of which can be found in http://www.madofftrustee.com/ - as of June 23 2009 , here are the details regarding submitted claims
| # of Allowed Claims: | 441 | |
| $ of Allowed Claims: | $1,160,782,049.36 | |
| $ of SIPC Coverage Provided: | $188,425,670.10 | |
| $ by Which Allowed Claims Exceed Statutory Limits of SIPC Protection: | $972,356,379.26 | |
