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A court-appointed trustee is paying $506 million to victims of Bernard Madoff’s Ponzi scheme in the latest attempt to repair some of the financial devastation caused by the massive fraud. The partial reimbursements announced yesterday are being sent to 1,103 Madoff account holders. That means the average check will be for about $459,000. The highest amount being doled out is about $116 million. It is the third round of payments to Madoff’s victims.

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