The Department of Justice announced today that the Madoff Victim Fund (MVF) began its seventh distribution of approximately $568 million in funds forfeited to the U.S. government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme, bringing the total distributed to over $3.7 billion to nearly 40,000 victims worldwide.

In this distribution, payments will be sent to nearly 31,000 victims across the globe, bringing their total recovery to 81.35%. This distribution represents the seventh in a series of payments that will eventually return over $4 billion to victims as compensation for losses they suffered from the collapse of the BLMIS. More than 2,600 victims will receive their first payment from MVF in this distribution.

“This distribution provides nearly 31,000 victims additional financial recovery from the egregious crimes committed by Bernard Madoff,” said Acting Assistant Attorney General Kenneth A. Polite Jr. of the Justice Department’s Criminal Division. “The Department’s continued efforts to ensure justice for victims of crime is demonstrated through the ongoing Madoff remission process and the billions given back to innocent victims worldwide.”

“This office continues to seek justice for victims of history’s largest Ponzi scheme,” said U.S. Attorney Audrey Strauss for the Southern District of New York. “The additional payment of more than $568 million by our Office and the U.S. Department of Justice Criminal Division’s Money Laundering and Asset Recovery Section represents the seventh in a series of distributions that will leave victims with compensation for more than 81 percent of their losses. But our work is not yet finished, and the Office’s tireless commitment to compensating the victims who suffered as a result of Madoff’s heinous crimes continues.”

According to court documents and information presented in related proceedings, for decades, Bernard L. Madoff used his position as chairman of BLMIS, the investment advisory business he founded in 1960, to steal billions from his clients. On March 12, 2009, Madoff pleaded guilty to 11 federal felonies, admitting that he had turned his wealth management business into the world’s largest Ponzi scheme, benefitting himself, his family and select members of his inner circle.

On June 29, 2009, then-U.S. District Judge (now U.S. Circuit Judge), Denny Chin sentenced Madoff to serve 150 years in prison for running the largest fraudulent scheme in history. Of the approximately $4.05 billion that will be made available to victims, approximately $2.2 billion was collected as part of the historic civil forfeiture recovery from the estate of deceased Madoff investor Jeffry Picower. An additional $1.7 billion was collected as part of a deferred prosecution agreement with JPMorgan Chase Bank N.A. and civilly forfeited in a parallel action. The remaining funds were collected through a civil forfeiture action against investor Carl Shapiro and his family and from civil and criminal forfeiture actions against Bernard L. Madoff, Peter B. Madoff and their co-conspirators.

The MVF’s payouts would not have been possible without the extraordinary efforts of the Criminal Division’s Money Laundering and Asset Recovery Section, the U.S. Attorney’s Office for the Southern District of New York and the FBI in the prosecution of Madoff’s crimes and the recovery of assets supporting the forfeiture in this case.

The MVF is overseen by Richard Breeden, former Chairman of the U.S. Securities and Exchange Commission, in his capacity as Special Master appointed by the Department of Justice to assist in connection with the victim remission proceedings. The Department of Justice also acknowledges the sacrifice of numerous individuals due to the COVID-19 pandemic, who worked in challenging conditions to ensure that this distribution occurred and remained on schedule.

More information about MVF and its compensation to victims of BLMIS is available on the MVF website at www.madoffvictimfund.com, such as eligibility criteria, process updates, and frequently asked questions. Further questions may be directed to the MVF at 866-624-3670 or info@madoffvictimfund.com.

Pennsylvania liquor stores put 2-bottle limit on some booze
By MARK SCOLFORO Associated Press
HARRISBURG, Pa. (AP) — Pennsylvania’s state-run liquor system is rationing sales of a few dozen products in response to what it describes as supply shortages beyond its control. The Pennsylvania Liquor Control Board notified license holders on Thursday that two-bottles-per-day purchase limits for customers at state stores as well as well for bars, restaurants and other license holders goes into effect Friday and will remain in place indefinitely. The PLCB says “sustained supply chain disruptions and product shortages” are prompting the restrictions on certain types of alcohol. The 43 items on the list of restricted products also will not be available through store-to-store transfers starting Friday. The list of rationed booze contains specific types of champagne, bourbon, tequila, cognac and whiskey.

Man accused of trying to run over 6 nonuniformed troopers
HARRISBURG, Pa. (AP) — State police say a Harrisburg man is accused of trying to run over nonuniformed state troopers who were attending a promotional exam in the city. Forty-five-year-old Jamal Kimani Crummel faces six counts of aggravated assault. He is also charged with reckless endangerment, driving under the influence and motor vehicle offenses. The incident occurred Wednesday afternoon. Police say Crummel accelerated toward the troopers and drove his vehicle into the grass off the street. The troopers, who were in business attire, were able to dive out of the way and no one was hurt. Crummel doesn’t have a lawyer listed in court records. He’s jailed with bail set at $150,000.

Americans have little trust in online security: AP-NORC poll
By MATT O’BRIEN AP Technology Writer
A poll shows that most Americans don’t believe their personal information is secure online and they aren’t satisfied with the federal government’s efforts to protect their digital privacy. The poll by The Associated Press-NORC Center for Public Affairs Research and MeriTalk shows that about half of Americans believe that their private text conversations lack security, and they’re even less confident about the security of their social media activity or physical location. Nearly three-quarters of Americans say they support establishing national standards for how companies can collect, process and share personal data.

By CHRISTOPHER RUGABER AP Economics Writer
WASHINGTON (AP) — The number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low, a sign that worsening COVID-19 infections may have slightly increased layoffs. Applications for jobless aid rose from 312,000 the week before, the Labor Department said Thursday. Jobless claims, which generally track the pace of layoffs, have fallen steadily for two months as many employers, struggling to fill jobs, have held onto their employees. Two weeks ago, jobless claims reached their lowest level since March 2020.

Contest winners, health worker orbiting world in SpaceX 1st
By MARCIA DUNN AP Aerospace Writer
CAPE CANAVERAL, Fla. (AP) — The four people on SpaceX’s first private flight are fairly ordinary, down-to-Earth types brought together by chance. Two are contest winners. One is a childhood cancer survivor who works as a physician assistant. The sponsor of the trip struck it rich with the payment-processing business he started in his parents’  basement in his teens. The four rocketed into orbit Wednesday night from NASA’s Kennedy Space Center. They’ll circle Earth for three days at an unusually high altitude before splashing down this weekend off the Florida coast.

Story by Beaver County Radio News Correspondent Sandy Giordano

(Aliquippa, Pa.) Troy Geanopulos, CEO of GESA  discussed facility modernization at  Wednesday night’s Aliquippa School Board meeting, Geanopulos told  board members his firm is a  sister of Duquesne Light Holdings.  He said that projects are funded primarily by significant  energy savings. Dr. Phillip K. Woods told the board that ESSR  funds  can be used  for the projects. The company is the largest energy saving company in western PA. Dr. Woods told the board that State Rep. Rob Matzie introduced him to Geanopulos following a discussion the 2 men had  concerning how he could help the Aliquippa School District.

Story by Beaver County Radio News Correspondent Sandy Giordano

(Aliquippa, Pa.) Aliquippa School Board approved the purchase of   iPads for elementary students  at a cost of $29,400, to be paid from ESR funds and 100 chrome books, at a cost of $23,700  and the district will be reimbursed with a grant.