Madoff Trustee Distributes Additional $2.4 Billion to Victims

Irving Picard, the court-appointed trustee seeking to recover money for victims, said Thursday that more than $2.4 billion has been mailed to former clients of Bernard L. Madoff Investment Securities, the largest distribution of funds since the massive fraud was revealed nearly four years ago.

The distribution was approved by a federal bankruptcy judge in August and will fully satisfy claims by 1,074 account holders, or about half of the allowed claims in the case.

via Madoff Trustee Distributes Additional $2.4 Billion to Victims – Law Blog – WSJ.