Madoff Trustee Gets $15 Million For Four Months Work

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Madoff trustee Irving Picard and his firm, Baker & Hostetler LLP, were just awarded $14.7 million for four months work on behalf of Bernie’s victims, Bloomberg reports.

Picard’s results so far: $1.08 billion for victims as of June 30 and lawsuits against big Madoff investors seeking about $14 billion more in damages.

But even if every dollar is won in those suits, it doesn’t come close to Madoff’s grand tally of $65 billion. As Bloomberg notes, some victims aren’t happy:

“‘The trustee has been an abysmal failure,’ Helen Chaitman, a lawyer and a Madoff victim who sued Picard over his calculation of claims, said in an objection filed this week.

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