News | November 24, 2009

Irving Picard Submits Bill for $25 million

News | November 24, 2009

By Alison Agudo

Court-appointed trustee, Irving Picard, is responsible for recovering money for Bernie Madoff’s victims, and today he and his lawyers submitted a bill for almost $25 million to a federal bankruptcy court.

While perhaps not the most universally loved man at this time, Irving Picard is the court-appointed trustee responsible for recovering money for Bernie Madoff’s victims, today he made it clear that he takes his job seriously.

Picard, his lawyers, and a few other firms who are helping to make sense of Madoff’s estate have just submitted an impressive bill amounting to nearly $25 million to a federal bankruptcy court.

With this new sum, the current amount that has been spent sorting through Madoff’s Ponzi scheme tallies in at $40 million. It’s likely that price tag will increase if Picard continues to do his job at this pace.

Via: New York Magazine