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Join the Securities Litigation and Enforcement Group on LinkedIn‘You Know What’s Cool? A Billion Dollars,’ Part II | Compliance Week
In a recent court filing, Madoff trustee Irving Picard confirmed that the trustee’s total fees for liquidating the Madoff firm and distributing the over $10 billion in assets recovered to date have now hit the ten-digit mark. via ‘You Know What’s Cool? A Billion Dollars,’ Part II | Compliance Week
Madoff Trustee Strikes $497 Million Settlement With Investors – WSJ
Irving Picard , the court-appointed official tracking down funds stolen in the largest Ponzi scheme ever, on Monday announced that two investment funds—Herald Fund SPC and Primeo Fund—have agreed to return $497 million they received by investing with Mr. Madoff. via Madoff Trustee Strikes $497 Million Settlement With Investors – WSJ
Madoff Trustee, Investor Strike Multimillion-Dollar Settlement – WSJ – WSJ
A real-estate developer who invested with Bernard Madoff agreed to return $32.75 million in cash and surrender $29.35 million in claims against the convicted Ponzi-scheme operator’s investment firm under a new settlement. via Madoff Trustee, Investor Strike Multimillion-Dollar Settlement – WSJ – WSJ
Madoff trustee is dealt fresh legal setback — Reuters
In a decision on Sunday, U.S. District Judge Jed Rakoff said the trustee, Irving Picard, could not invoke federal bankruptcy law to recover money transferred outside the United States between foreign entities, citing a presumption that the law does not apply extraterritorially. via Madoff trustee is dealt fresh legal setback — Reuters
Madoff Victim Fund Receives More Than $40 Billion in Claims – Law Blog – WSJ
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. […]
If You Invested Less Than $925,000 With Bernard Madoff, You’re Now Even — Ponzitracker
The proposed distribution will mark the fourth year in a row that Picard has made a distribution to victims, bringing the total payout thus far to nearly $6 billion including the proposed distribution. With the fourth distribution, Picard announced that Madoff victims will now have received approximately 46% of their allowed loss. Combined with the […]
Madoff Victims Could Get Another $349 Million in Proposed Payout – NBC News.com
Victims of the epic Madoff Ponzi scheme could get back another $349 million under a proposal submitted to the bankruptcy court Tuesday by trustee Irving H. Picard. The proposed distribution, the fourth since the scandal broke, brings the total payout to nearly $6 billion. via Madoff Victims Could Get Another $349 Million in Proposed Payout […]
Madoff Liquidation Legal and Professional Fees Hit $823 Million … and Rising – Compliance Week
The latest report on the Madoff liquidation shows that the total amount of approved legal and other professional fees for the matter now stands at $823.68 million, with over $463 million of that amount going to law firm BakerHostetler. via Madoff Liquidation Legal and Professional Fees Hit $823 Million … and Rising – Compliance Week
Madoff Trustee Asks Supreme Court to Let Him Sue Banks – DealBook
The trustee seeking to recover money for the victims of Bernard L. Madoff’s Ponzi scheme asked the Supreme Court on Wednesday to review a ruling that prohibits him from suing several of the world’s largest banks that he contends aided the fraud. via Madoff Trustee Asks Supreme Court to Let Him Sue Banks – DealBook
More than $2 billion for Madoff victims is still in limbo — CNN Money
SEC veteran and hedge fund founder Richard Breeden, who was appointed by the U.S. Department of Justice in December of 2012 as “special master” of $2.35 billion in forfeited assets, announced a delay in the distribution of those funds to victims of Madoff’s scheme. Breeden is having trouble distinguishing Madoff “victims” from “customers,” which is […]