Until now, only those who invested money directly with Bernard L. Madoff Investment Securities were eligible to receive a piece of the money recovered from the fraud. Investors in so-called feeder funds, which themselves invested in Mr. Madoff’s scheme, have been denied recoveries by Irving Picard, the trustee appointed by the Securities Investor Protection Corp. to oversee the wind-down of the Ponzi scheme.
In an announcement Monday, such investors will be able to apply for recoveries from a separate pot of money overseen by Richard C. Breeden….
via Madoff Victim Fund Receives More Than $40 Billion in Claims – Law Blog – WSJ
