Firms Cleaning Up Madoff Mess Are Raking In the Cash


Irving Picard, the court-appointed trustee responsible for recovering money for Bernie Madoff’s victims, may be universally hated, but at least he’s getting rich. Today he, his lawyers, and a few other firms helping make sense of Madoff’s estate submitted a bill for almost $25 million to a federal bankruptcy court. That brings the price tag for sorting through Bernie’s Ponzi scheme to a hefty $40 million. Or what Bernie used to spend on lunch.

Fees in Madoff Case Rise Nearly $25 Million [Dealbook/NYT]