made-off

Madoff Trustee Spends Money to Make Money

Irving Picard, the trustee in charge of locating assets for victims of Bernie Madoff, spent $26.9 million while recovering $849,000, a report filed in Manhattan federal court has found. “I have nothing to add to the report,” Picard told Bloomberg in response. [Bloomberg Businessweek]

Madoff Trustee Spends Money to Make Money