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.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.