Bernard Madoff's former customers will soon see their total recovery approa...
NEW YORK - Bernard Madoff’s former customers will soon see their total recovery approach $14 billion, a court-appointed trustee said on Friday, as the dying swindler awaits a decision on whether the U.S. government will support his request to leave prison early.
Irving Picard, the trustee liquidating Bernard L. Madoff Investment Securities LLC, said he has begun distributing $369 million to holders of 854 accounts, bringing the total payout to all eligible customers to $13.93 billion. Picard said 1,469, or 64%, of the 2,282 eligible customer accounts will have been fully paid following Friday’s payout.
Madoff pleaded guilty in March 2009 to 11 criminal counts and has served nearly 11 years of his 150-year sentence.
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