There was no FDIC insurance because Bernie&#x27;s ponzi scheme was not a bank. For this 64 billion dollar fraud, less than 5% of the money been returned to victims.<p><a href="https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Madoff_investment_scandal" rel="nofollow">https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Madoff_investment_scandal</a>