Nearly 7-1/2 years after Bernard Madoff's Ponzi
scheme was unmasked, the court-appointed trustee recouping money for the
swindler's victims on Thursday sought court approval to free up another
$247 million to help cover their losses.
The proposed payout would be the seventh by the
trustee Irving Picard, and follows several recent settlements to recoup
sums from other firms that once did business with Madoff.
Once the distribution is made, eligible recipients will have recouped about $9.45 billion, Picard said.
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Source: NBC News
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