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

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...