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Madoff Scandal: The Final Minions Meet Their Fate. After more than six years and 15 convictions, the Bernie Madoff Ponzi scheme, which cost his investors an estimated $50 billion, is finally coming to close. Continue Reading Below.
The money comes from the $11 billion that was recovered by officials, mostly thanks to the widow of Madoff's accomplice Jeffrey Picower, who returned $7.2 billion that wasn't hers. Getting the rest of the money back hasn't been so easy, however, tallying up about $1 billion of legal fees and counting.