A question about the Madoff case: I read that his investors were insured by the FDIC (or maybe some other acronym) to the tune of half a million USD (i.e., everyone who invested received up to half a million from US taxpayers). Did this happen?
There was no FDIC insurance because Bernie's ponzi scheme was not a bank. For this 64 billion dollar fraud, less than 5% of the money been returned to victims.
