Madoff Trustee Returns $355 Million More To Investors

NEW YORK (AP) —

About $355 million distributed Friday to victims of Bernard Madoff’s Ponzi scheme means over half of allowable claims have been paid in full, the trustee recovering money for investors announced Monday.

The latest distribution from money generated through settlements was the fifth major payout since Irving Picard was appointed to oversee the recovery of money after Madoff’s December 2008 arrest. The payout ranged from $431 to $57.1 million, with the average being $330,000.

So far, Picard’s office has recovered over $10.5 billion of the estimated $20 billion in losses over several decades.

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