CNBC Transcript: CNBC Exclusive: Madoff Bankruptcy Trustee Irving Picard and Chief Counsel David Sheehan Sit Down with Scott Cohn on CNBC

SCOTT COHN: All right. Let’s start out with this milestone that we’ve reached today. Tell me about the distribution that you’re announcing and where we stand. IRVING PICARD: Well, we’re announcing a distribution of a little over $500 million. It’s as a result, primarily, of– settlement funds that we received– late last week of about– over a billion dollars from the Tremont settlement. And– that distribution will be– the $500 million distribution will be about $0.047. More on CNBC here.