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RFS was founded nearly 25 years ago by Richard C. Breeden, a former Chairman of the U.S. Securities and Exchange Commission (\u201cSEC\u201d) with a sole focus on administering programs on behalf of the government. RFS operates primarily out of Syracuse, NY; with additional personnel in New York, NY, Washington, DC and Florida. We are currently administering several victim compensation funds on behalf of the U.S. Department of Justice (\u201cDOJ\u201d) and the SEC, including the +$4 billion Madoff Victim Fund on behalf of DOJ.\u00a0 We have been a preferred provider for the SEC for nearly 20 years, and were recently selected as a member of the DOJ\u2019s fund administrator pool. The RFS team is comprised of professionals with a wide range of expertise in complex claim processing. We have in-house expertise in all areas necessary for a successful administration, including legal, information technology, claims and data analysts, customer service personnel, and distribution controls.<\/p>\n
Overall, with the completion of our current cases we will have distributed more than $9 billion for the SEC and DOJ in programs involving approximately four million victims located in more than 130 countries. This entailed reviewing more than $200 billion in claimed losses, tracing cash and verifying losses for each applicant. We also have significant experience administering settlements involving digital assets, having developed proprietary processes to address wallet verification and claim validation utilizing information available on the blockchain.<\/p>\n
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