Two more Montana investors have come forward who lost money in c
"The investors are from the Billings area. I believe the loss is about $500,000 between the two of them," Deputy Securities Commissioner Lynne Eagan said Tuesday.
That brings to 35 the known number of Montanan investors victimized by the Madoff scheme.
Thirty-three of them are clients of a Bozeman investment adviser, including the adviser himself, his 94-year-old mother, 95-year-old aunt and his brother and sister.
Eagan says their losses totaled $18 million.
"I am certain there are other Montana investors who have not yet called our office, or who are not yet aware that they are victims," Eagan told The Associated Press.
That may include people who invested in feeder funds not directly connected to Madoff but which channeled investors' money to him, Eagan said.
A magistrate this week ruled Madoff could remain free on $10 million bail despite government efforts to have him jailed.
Prosecutors are appealing the decision. U.S. District Judge Lawrence McKenna has been assigned the case and a hearing is scheduled Wednesday.
Authorities say Madoff has described what he did as a $50 billion Ponzi scheme, paying investors with money raised from new clients.
The fact that Madoff has been able to spend his days in his luxury New York City apartment - and not jail - has stirred outrage among investors.