Madoff victims’ payout may exceed $5 billion

Trustee hopes to distribute another $505 million

The trustee managing the payout to Bernard Madoff’s defrauded former customers hopes to have good news for the lot soon.

Irving Picard will ask for court approval to distribute another $505 million to Madoff’s victims—bringing the total amount of distribution to more than $5 billion. While the payout seems large, it’s only a fraction of the estimated $17.3 billion that was lost as a result of Madoff’s Ponzi scheme.


Cathleen Flahardy

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