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Feds Get $7.2 Billion in Forfeitures for Madoff Victims

By Allan Lengel
ticklethewire.com

Well, it’s beginning to look a lot more like Christmas.

The U.S. Attorney’s Office in New York announced Friday that the estate of Jeffry M. Picower has agreed to forfeit $7.2 billion to compensate the victims of swindler Bernie Madoff.

Since the 1970s, Picower withdrew those funds from hi The distribution of funds as a result of investing with Madoff.

Authorities said the $7.2 billion forfeiture was the largest single forfeiture in U.S. history.

Picower died in October 2009.

Markovitz lawsuit. 


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