Judge Releases $7.2 Billion in Seized Assets to Madoff Victims

I recently blogged that Irving Picard, the court-appointed trustee in charge of recovering assets stolen by Madoff, reached a deal with Jeffry Picower’s widow for $7.2 billion. Last Thursday, Judge Burton Lifland ruled Picard should dole out this cash to compensate victims. While many victims have received compensation from insurance, this is the first time that victims will receive compensation from seized assets.

See Aaron Smith, Madoff Victims Win $7.2 Billion from Picower Estate, CNN Money, Jan. 13, 2011.