Picower Estate Pays $7.2B to Settle Madoff Suit
December 17, 2010 at 10:52 AM EST
The estate of Jeffry Picower, a major investor in Bernard Madoff’s Ponzi scheme, has agreed to repay $7.2 billion to victims of the fraud in a settlement with the trustee overseeing the investment firm’s bankruptcy and federal prosecutors in Manhattan, according to people familiar with the situation. – WSJ