BUSINESS
06/14/2009 05:12 am ET Updated May 25, 2011

Madoff Money Recovered: Trustee Gets About $1 Billion, Expects More For Clients Soon

About $1 billion has been recovered to pay back the defrauded customers of swindler Bernard Madoff, but settlements in the coming weeks will boost the number significantly, the trustee winding down the Madoff firm said on Thursday.

Trustee Irving Picard told reporters on a conference call that he has filed lawsuits to recover $10.1 billion in assets from Wall Street's biggest investment fraud.

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