Madoff Trustee Demands To Be Paid $22 Million

By filing countless lawsuits, threatening clawback and promising to track down every possible Madoff dollar, Irving Picard has become almost a household name.

And most lawyers just do not work that hard for free.

Picard’s firm, Baker & Hostetler submitted a fee bill asking for $21.28 million and Picard is separately seeking nearing $900,000 for his role as trustee for the Securities Investor Protection Corp, the agency that supervises brokerage liquidations.  The bill covers five months, ending September 30. 

Picard has recovered $1.4 billion so far, 7% of the reported investor losses to Madoff.

Reuters reported the fee submission, and has the full story here.  

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