Bernie Madoff's Sons' Estates Agree to Forfeit $23 Million in Ill-Gotten Gains

Bernie Madoff

Sons’ Estates to Fork Over $23 Mil

Worth of Ill-Gotten Cash

6/27/2017 1:23 PM PDT

Breaking News

Bernie Madoff‘s family is not done paying back the money he scammed from thousands of investors.

The estates of Bernie’s late sons — Mark and Andrew — have agreed to forfeit $23 million in money they acquired through years of their dad’s infamous Ponzi scheme. It’s part of a deal struck with Irving Picard, who’s responsible for recovering cash for Madoff’s victims.

Both sons died years ago — Mark of a suicide in 2010, and Andrew of cancer in 2014. Neither was ever charged in connection to their father’s crimes. After the payback, their estates will still reportedly be worth $1.75 mil for Mark, and $2 mil for Andrew.

Bernie is currently serving a 150-year federal prison sentence in North Carolina for pleading guilty to 11 federal felonies in March 2009.

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