Dead Madoff Buddy Gives $200 Million to Wife

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Photo: Courtesy The New York Times

Jeffry Picower, the Florida philanthropist who reaped massive rewards from Bernie Madoff's swindling then died in his swimming pool, has left $200 million to his wife, $25 million to his daughter and $10 million to his longtime assistant, even as his estate is in negotiations to return the money he received from Madoff. Picower's lawyer has agreed to hand over $2 billion to the trustee tasked with recouping money for Madoff's victims but is less willing to give back the rest of the $7 billion his client withdrew from his account with Madoff. The trustee says all of the money should be returned since Picower knew, or should have known, what Madoff was up to. At least Picower's wife won't be taking the train any time soon. That's the important thing.

Picower Estate Leaves $200 Million to Wife [WSJ]