Saturday, December 18, 2010

Picard Recoups $7.2B From Picower Estate for Madoff Victims

FINalternatives submits:

The trustee overseeing the liquidation of Bernie Madoff’s investment firm has recovered $7.2 billion from the estate of Madoff investor Jeffry Picower.

Irving Picard says the total represents $5 billion to resolve claims against Picower’s estate and an additional $2.2 billion the Picower group has forfeited to the U.S. government.


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