More than half of investors’ funds have been recovered nearly four years after Bernard Madoff’s arrest for running the biggest Ponzi scheme ever. The man leading the global hunt for the funds said Monday that he recovered, or reached deals to recover, more than $9.2 billion of the $17.3 billion in principal that investors lost as a result of Mr. Madoff’s scheme, which landed him a 150-year prison sentence. Trustee Irving Picard said he collected $115.3 million by settling 18 cases between April 1 and Sept. 30, the period covered by the status report he filed with the U.S. Bankruptcy Court in Manhattan. During that six-month period, Mr. Picard paid about $2.5 billion to Mr. Madoff’s investors, bringing the total compensation they have received to $3.7 billion. More in the Wall Street Journal here.
