Investor returns $625 million received from Madoff Ponzi scheme - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Investor returns $625 million received from Madoff Ponzi scheme

PALM BEACH, FL (WFLX) - A Palm Beach philanthropist, with ties to Bernie Madoff, has agreed to return the millions he made on the Ponzi scheme.

Carl Shapiro and his family announced they are giving the $625 million they received from Madoff to help repay other victims. Shapiro was one of Madoff's early investors.

The family agreed to surrender the money after the U.S. government made a move to seize it.

Shapiro has maintained he had no idea Madoff was stealing from some investors to pay off others.

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