Good News For Madoff Victims: $7.2 Billion Recovered

In the biggest win yet for victims of Bernie Madoff, the estate of the single biggest beneficiary of Madoff's fraud agreed to pay $7.2 billion to the victims' recovery fund and the Department of Justice. Irving Picard, the trustee recovering money for Madoff's victims, announced Friday that he had cut a deal with the estate of the late Jeffry Picower that would reap $5 billion for the victims' fund, with another $2.2 billion to be distributed to victims via the U.S. government. Picard had...Full Story
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