Madoff trustee can pay victims $2.4 billion

Irving Picard sought the funds for distribution last month

Irving Picard, the trustee for fraudster Bernie Madoff’s former clients, has won the right to distribute funds to some of Madoff’s victims.

Yesterday, U.S. Bankruptcy Judge Burton Lifland, approved Picard’s request last month to distribute $2.4 billion to some of the conman’s victims. To date, Picard has already distributed $1.1 billion to victims of Madoff.


Cathleen Flahardy

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