To date, $1.2 billion has been collected for victims of the $50 billion Bernard Madoff investment scam, including a $235 million settlement from one of the firms that did business with him.
According to Irving Picard, the trustee overseeing the liquidation of Bernard L. Madoff Investment Securities LLC, Optimal Investment Services agreed to pay a $235 million settlement, which resolves all claims against the firm. The amount is equal to 85% of the amount of the trustee's original claims against Optimal.
As of Memorial Day, letters for commitments in excess of $116 million had been sent by the trustee to 237 claimants in the liquidation of Madoff's term, according to Picard.
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