NORTH ADAMS, Mass. — Local victims of Bernie Madoff's Ponzi scheme - the largest investment fraud in United States history - should see some of their money returned.
Barbara Picower, the widow of a Florida businessman who was the biggest beneficiary of the ploy, agreed on Friday to return $7.2 billion in profits back to the victims. The total is more than a third of the total amount stolen and would allow for most victims to get at least half of their money back, the Boston Globe reported.
Local residents who were conned are:
The late Dorothy Becker of Williamstown.
The Ranzer family of Williamstown.
David Albert of Pittsfield.
Michael Albert of Lenox.
Irwin and Ellen Dolkart of Lenox.
Turbi Smilow of Lee.
A complete list of victims from the state is located here.
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