5min chapter

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69. The Scheme (Bernie Madoff)

Swindled

CHAPTER

Making Off - The Biggest Loss Ever

The liquidation and recovery effort led by irving picard stripped the made off sons estates of all assets, cash and other proceeds to recoup 23 million dollars. Irvin picard also filed lawsuits against the pansey schemes biggest winners, like stanley Chase's family had reaped more than one billion dollars from the made off fund. The largest single amount recovered from a single individual came from geoffrey pickower and his wife, barbara, who owned two dozen accounts in the made off funds. It was the largest single forfeiture in american judicial history. More than 13 billion dollars of that has already been distributed among the victims.

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