The Madoff firm trustee won approval from a judge on Wednesday to make a second payment that could reach $2.4 billion to former clients of epic conman Bernard Madoff.
The trustee, Irving Picard, had sought the approval of the distribution last month from U.S. Bankruptcy Judge Burton Lifland in Manhattan. The trustee has already distributed $1.1 billion to former customers of the convicted Ponzi schemer.
Approval of the second distribution had previously been exected. Objectors have 14 days to appeal the latest decision.
via Madoff firm trustee wins right to pay $2.4 bln to victims — Reuters