Madoff will start to notify victims by end of the week

Wednesday is an important day for those affected by Bernard Madoff, as legal proceedings against him will officially get underway.

It is the deadline that Manhattan federal judge Louis L. Stanton, of the United States District Court, set for Madoff to provide a full accounting of his New York firm’s assets, according to the New York Times.

The trustees handling the liquidation of Madoff’s  assets will also send out the first mass notification to customers of Madoff’s firm by the end of the week.

This should begin the official mapping out of the carnage Madoff wrought.

There has also been a request sent to Stanton that Madoff also notify customers of people invested in Madoff because so many of the losses were incurred by people who invested in Madoff through third parties.

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