Madoff Victims To Get $350 Million More

May 6 2014 | 12:57pm ET

The trustee in the Bernard Madoff case is ready to turn over the $325 million he got in a settlement with JPMorgan Chase in January.

Irving Picard yesterday began cutting $351.6 million in checks to Madoff victims. The payouts will bring to nearly $6 billion the amount returned to the Ponzi schemer’s investors; victims lost about $17 billion in the scheme, and Picard has accepted claims totaling about $11 billion.

The fourth distribution will make whole all investors who lost $925,000 or less in the fraud. The checks range from about $500 to $77.8 million.

Picard said he is “looking ahead to additional, significant recoveries and distributions later this year.” He has collected about $9.8 billion.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR