Madoff Trustee Reports $1B Recovered

Law360, New York (July 10, 2009, 12:00 AM EDT) -- The trustee overseeing the liquidation of Bernard L. Madoff Investment Securities LLC has recovered over $1 billion, filed actions to retrieve $13.7 billion more and fielded claims from thousands of investors in the six months since the firm's notorious founder was charged with running a $65 billion Ponzi scheme.

In his first interim report, filed Thursday in the U.S. Bankruptcy Court for the Southern District of New York, trustee Irving H. Picard outlined his efforts to retrieve funds for the firm's former clients, along with the...
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