Victims of a $7 billion dollar Ponzi scheme that was ran by former mogul Allen Stanford reportedly may be able to get their losses reimbursed.

According to The Poch Times, parties that included the Justice Department, were in legal fights over the most effective way to divvy up roughly $300 million in frozen assets that were formerly owned by Stanford came to an agreement this week.

"The freeing up of funds ... is a good thing," said Angela Shaw, the founder of the Stanford Victims Coalition to The Associated Press. Her family saw a loss of an estimated $4.5 million in the Stanford scam.

"Without the ... agreement, the (parties) will be forced to expend substantial time, energy and money fighting over the Stanford assets," Ralph Janvey's attorneys wrote, who had been appointed by a judge to check over the money recovery effort.

Kate Freeman, a retired woman, welcomed the move, due to losing $820,000.

"This will help all of the victims. This will put a little bit of money in everyone's pocket."

Unfortunately, the site notes that investors are only likely to get a tiny fraction of their monies back, which is only said to be 1 percent of their initial investments.

"If you've saved your whole life and invested $300,00, you are only getting back $3,000," Shaw explained.

Stanford, an ex-financer and sports sponsor, is currently serving a 110-year prison sentence because of the Ponzi scheme. He had been convicted in March 2012 and was sentenced in June of that same year.

Upon Stanford's sentencing, he said that he was remorseful for "depositors, employees, families and my own family."

He even went on to say, "I am not a thief," according to the Houston Chronicle.

Stanford has garnered comparisons to Bernie Madoff, who had been convicted and sentenced for a Ponzi scheme to the tune of $17 billion.

However, prosecutors stated that Stanford kept even more money and had a net worth of $2 billion while Madoff's was at $823 million.

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