BUSINESS
04/23/2009 05:12 am ET Updated May 25, 2011

$1 Billion Of Madoff's Assets Has Been Recovered, Says Trustee

The assets of Bernard L. Madoff Investment Securities LLC that investigators have tracked to Gibraltar are worth about $75 million, raising to $1 billion the amount a trustee has recovered for investors, a lawyer said.

David Sheehan, a lawyer for Irving Picard, who was appointed by the Securities Investor Protection Corp. to unwind Madoff's businesses, also said at a court hearing today that French authorities may soon seek to seize Madoff's French chateau, worth about $1.6 million.

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