Madoff victim fund extends deadline to April 30 - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

Madoff victim fund extends deadline to April 30

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Bernard Madoff (DOJ photo) Bernard Madoff (DOJ photo)

NEW YORK (AP) - The deadline for Bernard Madoff's victims to sign up for a relief fund has been extended.

The previous deadline for petitions to the Madoff Victim Fund was Feb. 28. It is now April 30.

The fund will distribute assets forfeited in the Madoff case. It's separate from a bankruptcy court proceeding that has recovered money to redistribute to burned Madoff clients.

So far, the victim fund has received more than 9,000 claims. Special Master Richard C. Breeden says the majority of them come from investors who are ineligible for the money being assembled in the bankruptcy court proceeding.

He also says many people who may be eligible only recently learned that the fund exists.

Bernie Madoff is serving a 150-year prison sentence for bilking thousands of people of nearly $20 billion.

Online: http://www.madoffvictimfund.com/

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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