Will it ever end? I think not as long as there is greed! The SEC warned of this we bsite that claims (falsely) to have recovered Madoff money in Malaysia. Madoff victims are asked to give information to ‘verify’ they are on the Madoff refund list which is just another way fraudsters set up a new con.
The web site in question tries to mimic the Securities Investor Protection Corporation’s (SIPC) website to lure in potential victim. The web site claims affiliation with the International Monetary Fund, World Bank and others in its bid for authenticity.
There is really no way to prevent con artists from trying to run frauds but with a little healthy skepticism many potential victims might avoid these ‘too good to be true’ scams.
Here’s the SEC bulletin: http://www.sec.gov/investor/alerts/sipcscamalert.htm