“A million dollars isn’t cool. You know what’s cool? A billion dollars.” — Sean Parker, The Social Network
In late 2014, Irving Picard, SIPC’s trustee in the Bernard Madoff case, confirmed that the trustee’s legal and professional fees in the matter had passed the $1 billion mark–and that over $10 billion in assets had been recovered to date. The $1 billion in fees was an eye-opener for many people but with the release today of more good news for Madoff victims, Picard says that this $1 billion (and counting!) is a “very good return on an investment.”
