News

Irving Picard Talks about 10-Year Battle to Recover Billions for Madoff Victims

News / December 12, 2018

Partner Irving Picard, the court-appointed trustee under the Securities Investor Protection Act (SIPA) for the liquidation of Bernard L. Madoff Investment Securities LLC (BLMIS), is quoted in two articles published by Bloomberg News Service in connection with the 10th anniversary of the unmasking of Madoff’s $19 billion Ponzi scheme. The articles detail the recovery of more than $13 billion by Picard and his team. About $11.9 billion has been distributed to victims of the fraud. Picard has recently sought authorization to distribute another $419 million on approved claims. As of now, almost 1,400 victims who had claims of $1.38 million or less have been repaid in full.

Madoff’s Victims are Close to Getting Their $19 Billion Back

Madoff Victims Get $419 Million Payment 10 Years After Arrest

News release from the Office of the SIPA Trustee