Thursday, August 20, 2009

AARP reports on how Madoff affected some retirees; they can recover some money

The AARP Bulletin, on p 63, Sept./Oct. 2009, has a new article “Bamboozled by Madoff”. It describes the possibility that a Madoff victim can claim theft losses on IRS income taxes (in the example given, a credit worth $40000), and eventually recover some monies from the SIPC, the Securities Investor Protection Corporation.

The couple in the story was fortunate not to have any debts. The story has a picture of a New York Post issue with the headline “How I stole $65B”.

Here is the main link for the SIPC.

The AARP story link was not yet available. But a similar story on Aug. 8 is here.

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