Madoff Trustee Picard Sets $272 Million Payout, Sept. 15 Claim Record Date

The liquidator of Bernard Madoff’s firm is planning an initial distribution of $272 million to investors holding allowed claims as of Sept. 15, according to a court filing. Trustee Irving Picard intends to issue payments by the end of the third quarter, after reviewing allowed claims against the jailed con man, he said in July. The average check, arriving almost three years after the Ponzi scheme collapsed, will be $222,551, he said.
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