Victims of Madoff finally sees some money

Madoff trustee Irving Picard has succeeded in winning back $2.48 billion for the 1,230 former customers of Bernard L. Madoff Investment Securities LLC of the massive Ponzi scheme, one of the largest payouts in history.

At a glance:

Legal Fees Granted: $321.2 million for law firm Baker & Hostetler for year ended 31 January 2012

Payouts: From $1,784 to $526.9 million

Largest valid claim: $1.57 billion by Optimal Multiadvisors Ltd, part of Spain’s Banco Santander SA; and $741 million by M-Invest Ltd, a “feeder” fund created by Switzerland’s Union Bancaire Privee (according to a September 13 report by the U.S. Government Accountability Office)

Case Reference: Securities Investor Protection Corp. v. Bernard L. Madoff Investment Securities LLC, U.S. Bankruptcy Court, Southern District of New York, No. 08-ap-01789

……

Please see The Scandal Club>Ponzi Schemes to follow similar stories

Advertisements

One response to “Victims of Madoff finally sees some money

  1. Pingback: A Happy Compliance Thanksgiving | Inside Reg·

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s