Screwed by Madoff? Deadline to report it is approaching

Photo by Red Carlisle

If Bernie Madoff's alleged $50 billion Ponzi scheme screwed you over, it's time to get in line to make your claim. Time is running out to join the growing list of Americans who lost money in his wide network of alleged fraud.

Victims have until March 4 to file their claims, Gov. Tim Pawlenty announced today.

Victims must file a formal claim with the Securities Investor Protection Corporation (SIPC) by Wednesday, March 4. Pawlenty said Minnesotans may have lost $300 million from the fraud.

All of Madoff's former customers have been contacted and received claim forms. SIPC protects assets in brokerage accounts up to $500,000. Madoff was arrested on December 11, 2008 and charged with securities fraud.

For more information and to download claim forms, visit the trustee's Web site or SIPC.