More than 15,400 former clients have filed claims against Bernard L. Madoff's estate seeking compensation for their losses according to an update released Thursday from the Federal Bankruptcy court in New York, the New York Times reported.
Madoff admitted to swindling a total of $64.8 billion over a period of 20 years in the largest ponzi scheme ever conducted in the U.S. In early June approximately 8,800 claims had been filed and the number of claimants rose to over 15,400 by the July 2 deadline.
The 71-year-old Madoff was sentenced last week to 150-years in jail, a sentence far longer than those handed down in other white-collar cases.
Madoff investors may also qualify to receive up to $500,000 in compensation from the Securities Investors Protection Corporation.