The U.S. Securities and Exchange Commission says that a deceptive website is targeting the victims of the Madoff fraud.

The SEC reports that a website, falsely claiming to have recovered $1.3 billion in funds hidden by convicted Ponzi schemer Bernie Madoff, is now targeting the scheme’s original victims with false promises of recovery. It says that the site asks victims to submit information to verify that they are on a refund list — a ploy commonly used by con artists to further rip off fraud victims.

The site claims to be home to the “International Security Investor Protection Corporation” — which the SEC says is a fictitious entity; and that it resembles the site of the industry’s genuine contingency fund, the Securities Investor Protection Corporation, “mimicking its look, feel, and content in an attempt to achieve an aura of authenticity…”

“Investors who lose money in widely publicized schemes are often targeted by con artists looking to cash in on the victim’s desire to recover losses,” said Lori Schock, director of the SEC’s Office of Investor Education and Advocacy. “Victims of fraudulent schemes should be aware that such refund schemes commonly exist, and can be perpetrated through copycat Web sites that appear similar to those of actual regulators or other organizations.”

IE