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4 unusual facts about Irving Picard


Aurelia Finance

Irving Picard, the trustee charged with recovering money for Madoff fraud victims, alleged that in September 2008 when a JPMorgan Structured Investments Distribution Marketing division employee disclosed JPMorgan plans to redeem its money, he was threatened by employees of Aurelia Finance.

Barbara Picower

Barbara reached an agreement in 2010 with Irving Picard and others to return $7.2 billion in illegitimate Picower proceeds to the public trustee of later Madoff investors who have lost an estimated $12 to $20 billion.

Tim Teufel

In December, 2010, Teufel was sued for $1.2 million by Irving Picard for bogus profits he received from the Madoff scam.

Tremont Group

In December 2010, Irving Picard, the court-appointed trustee in the Madoff bankruptcy, sued Tremont over $3 billion in customer money that Tremont lost by investing with Madoff.


Participants in the Madoff investment scandal

On December 10, 2010, Irving Picard sued Sonja Kohn and her bank, Bank Medici, for $58.8 billion, accusing Kohn of being a "criminal soul mate" of Madoff.

Recovery of funds from the Madoff investment scandal

Approximately $5.868 billion has been distributed to victims of Bernard Madoff through the agency of trustee Irving Picard.


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